US JOLTS Job Openings

The number of job openings was unchanged at 6.9 million in March, the U.S. Bureau of Labor Statistics reported today. Over the month, hires increased to 5.6 million while total separations changed little at 5.4 million. Within separations, both quits (3.2 million) and layoffs and discharges (1.9 million) were little changed. This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, and by establishment size class. Job openings include all positions that are open on the last business day of the month. Hires and separations include all changes to the payroll during the entire month. Job Openings The number of job openings was unchanged at 6.9 million in March. The job openings rate, at 4.1 percent, changed little over the month. The number of job openings decreased in professional and business services (-318,000) but increased in finance and insurance (+98,000). (See table 1.) Hires The number of hires increased to 5.6 million (+655,000) and the rate increased to 3.5 percent in March, more than offsetting decreases in those measures the previous month. The number of hires increased in transportation, warehousing, and utilities (+108,000), and edged up in professional and business services (+165,000) and in accommodation and food services (+124,000). Hires decreased in federal government (-7,000). (See table 2.) Separations Total separations include quits, layoffs and discharges, and other separations. Quits are generally voluntary separations initiated by the employee. Therefore, the quits rate can serve as a measure of workers’ willingness or ability to leave jobs. Layoffs and discharges are involuntary separations initiated by the employer. Other separations include separations due to retirement, death, disability, and transfers to other locations of the same firm. In March, the number and rate of total separations were little changed at 5.4 million and 3.4 percent, respectively. Total separations were little changed in all industries in March. (See table 3.) In March, the number and rate of quits were little changed at 3.2 million and 2.0 percent, respectively. Quits decreased over the year by 285,000. Over the month, the number of quits increased in real estate and rental and leasing (+19,000). (See table 4 U.S. job openings have been stable, and the three-month moving average stood at 7 million in March There were 0.94 job vacancies for every worked counted as unemployed in March, in line with the recent trend. pic.twitter.com/03wCHzdWaT