BLS: Job Openings "Little Changed" in February
From the BLS: Job Openings and Labor Turnover Summary
The number of job openings was little changed at 6.1 million on the last business day of February, the U.S. Bureau of Labor Statistics reported today. Over the month, hires and separations were little changed at 5.5 million and 5.2 million, respectively. Within separations, the quits rate was unchanged at 2.2 percent and the layoffs and discharges rate was little changed at 1.1 percent. …
The number of quits was little changed at 3.2 million in February. The quits rate was 2.2 percent. The number of quits was little changed for total private and for government. Quits decreased in other services (-41,000). The number of quits was little changed in all four regions.
The following graph shows job openings (yellow line), hires (dark blue), Layoff, Discharges and other (red column), and Quits (light blue column) from the JOLTS.
This series started in December 2000.
Note: The difference between JOLTS hires and separations is similar to the CES (payroll survey) net jobs headline numbers. This report is for February, the most recent employment report was for March.
Click on graph for larger image.
Note that hires (dark blue) and total separations (red and light blue columns stacked) are pretty close each month. This is a measure of labor market turnover. When the blue line is above the two stacked columns, the economy is adding net jobs – when it is below the columns, the economy is losing jobs.
Jobs openings decreased in February to 6.052 million from 6.228 in January.
The number of job openings (yellow) are up 7.7% year-over-year.
Quits are up 6.3% year-over-year. These are voluntary separations. (see light blue columns at bottom of graph for trend for “quits”).
Job openings are near the highest level since this series started, and quits are increasing year-over-year. This was a solid report.