BLS Report: Job openings reach a high of 7.1 million; hires and separations little changed in August

[mahatmakanejeeves]

People come; people go.

JOLTS -- the Job Openings and Labor Turnover Survey. It comes out a few days after the monthly payroll employment report.

Job openings reach a high of 7.1 million; hires and separations little changed in August

Economic News Release USDL-18-1660

Job Openings and Labor Turnover Summary

For release 10:00 a.m. (EDT) Tuesday, October 16, 2018

Technical information: [phone] • [e-mail] • www.bls.gov/jlt
Media contact: [phone] • [e-mail]

JOB OPENINGS AND LABOR TURNOVER – AUGUST 2018

The number of job openings reached a series high of 7.1 million on the last business day of August, the U.S. Bureau of Labor Statistics reported today. Over the month, hires and separations were little changed at 5.8 million and 5.7 million, respectively. Within separations, the quits rate was unchanged at 2.4 percent and the layoffs and discharges rate was little changed at 1.2 percent. This release includes estimates of the number and rate of job openings, hires, and separations for the nonfarm sector by industry and by four geographic regions.

Job Openings

On the last business day of August, the job openings level reached a series high of 7.1 million. The job openings rate was 4.6 percent. The number of job openings was little changed for total nonfarm, total private, and government. Job openings increased in federal government (+15,000). The number of job openings was little changed in all four regions. (See table 1.)

Hires

The number of hires in August reached a series high of 5.8 million. The hires rate was 3.9 percent. The number of hires was little changed for total nonfarm, total private, and government. Hires were little changed in all industries and in all four regions. (See table 2.)

Separations

Total separations includes quits, layoffs and discharges, and other separations. Total separations is referred to as turnover. 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 includes separations due to retirement, death, disability, and transfers to other locations of the same firm.
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The Job Openings and Labor Turnover Survey results for September 2018 are scheduled to be released on Tuesday, November 6, 2018 at 10:00 a.m. (EST).

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[beachbum bob]

1. Little wage growth to speak of and what is being eaten up by

Price increases.

[mahatmakanejeeves]

2. There were more than 7 million job openings at the end of August, eclipsing unemployed workers

Sharon Nunn Retweeted:

There were more than 7 million job openings at the end of August, a number eclipsing unemployed workers by a record 902,000. While that's good news for job seekers, it carries some risks for broader economic growth. Here's why: https://www.wsj.com/articles/u-s-job-openings-topped-7-million-this-summer-1539702755 … @EricMorath

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