BLS Report: Job openings and hires edge up in February; total separations little changed
They got it out early this month.
Related:
Wed Jan 27, 2021: BLS Report: Gross job losses 20.4 million and gross job gains 5.7 million in the 2nd quarter of 2020
People come; people go.
This is JOLTS, the Job Openings and Labor Turnover Survey. It comes out a few days after the monthly payroll employment report.
The number of quits indicates how confident people are of finding another job if they leave the one they have.
Previous reports:
Fri Mar 12, 2021: BLS Report: Total separations decrease in January; job openings and hires change little
Tue Feb 9, 2021: BLS Report: Job openings and total separations little changed in December; hires decrease
Tue Jan 12, 2021: BLS Report: Job openings and hires little changed in November; total separations increase
Wed Dec 9, 2020: BLS Report: Job openings (6.7 million) and hires little changed; separations increase in October
Thu Nov 12, 2020: BLS Report: Job openings (6.4 million), hires, and separations little changed in September
Tue Oct 6, 2020: BLS Report: Job openings and hires little changed in August; total separations decrease
Thu Sep 10, 2020: BLS Report: Job openings rise in July, hires decrease, and total separations little changed
Wed Aug 12, 2020: BLS Report: Hires decrease in June; job openings, quits, and total separations rise
Tue Jul 7, 2020: BLS Report: Hires increase 2.4 million in May; job openings rise while layoffs and discharges fall
Wed Jun 10, 2020: BLS Report: Total separations fall in April to 9.9 million; job openings and hires also fall
Tue May 19, 2020: BLS Report: Total separations increase to a series high; job openings and hires decrease in March
Tue Apr 7, 2020: BLS Report: Job openings at 6.9 million, hires, and separations little changed in February
Tue Mar 17, 2020: BLS Report: Job openings rise to 7.0 million in January; hires and separations little changed
Wed Feb 12, 2020: BLS Report: Job openings fall to 6.4 million in December; hires and separations little changed
Tuesday, January 21, 2020 (a late release): BLS Report: Job openings fall to 6.8 million in November; hires and separations little changed
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Job openings and hires edge up in February; total separations little changed
Economic News Release USDL-21-0620
Job Openings and Labor Turnover Summary
For release 10:00 a.m. (ET) Tuesday, April 6, 2021
Technical information: (202) 691-5870 • JoltsInfo@bls.gov • www.bls.gov/jlt
Media contact: (202) 691-5902 • PressOffice@bls.gov
JOB OPENINGS AND LABOR TURNOVER – FEBRUARY 2021
The number of job openings edged up to 7.4 million on the last business day of February, the U.S. Bureau of Labor Statistics reported today. Hires also edged up to 5.7 million while total separations were little changed at 5.5 million. Within separations, the quits rate and layoffs and discharges rate were unchanged at 2.3 percent and 1.2 percent, respectively. This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, by four geographic regions, and by establishment size class.
Job Openings
On the last business day of February, the number of job openings edged up to 7.4 million (+268,000). The job openings rate was little changed at 4.9 percent. Job openings increased in health care and social assistance (+233,000); accommodation and food services (+104,000); and arts, entertainment, and recreation (+56,000). The number of job openings decreased in state and local government education (-117,000); educational services (-35,000); and information (-34,000). The number of job openings was little changed in all four regions. (See table 1.)
Hires
In February, the number of hires edged up to 5.7 million (+273,000). The hires rate was little changed at 4.0 percent. Hires increased in accommodation and food services (+220,000). Hires decreased in state and local government education (-80,000) and in educational services (-25,000). The number of hires increased in the South region. (See table 2.)
Separations
Total separations includes 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 includes separations due to retirement, death, disability, and transfers to other locations of the same firm.
In February, the number and rate of total separations were little changed at 5.5 million and 3.8 percent, respectively. The total separations level decreased in transportation, warehousing, and utilities (-97,000) and in federal government (-17,000). Total separations increased in construction (+90,000); state and local government education (+51,000); and educational services (+36,000). Total separations were little changed in all four regions. (See table 3.)
In February, the quits level and rate were little changed at 3.4 million and 2.3 percent, respectively. The number of quits increased in state and local government education (+29,000); educational services (+22,000); and real estate and rental and leasing (+15,000). Quits decreased in federal government(-7,000). The number of quits was little changed in all four regions. (See table 4.)
In February, the number and rate of layoffs and discharges were little changed at 1.8 million and 1.2 percent, respectively. The number of layoffs and discharges decreased in transportation, warehousing, and utilities (-91,000) and in federal government (-6,000). Layoffs and discharges increased in finance and insurance (+24.000). Layoffs and discharges decreased in the West region. (See table 5.)
The number of other separations was little changed in February at 323,000. Other separations increased in state and local government education (+9,000) and in educational services (+4,000). Other separations decreased in real estate and rental and leasing (-7,000) and in federal government (-3,000). The other separations level was little changed in all four regions. (See table 6.)
Net Change in Employment
Large numbers of hires and separations occur every month throughout the business cycle. Net employment change results from the relationship between hires and separations. When the number of hires exceeds the number of separations, employment rises, even if the hires level is steady or declining. Conversely, when the number of hires is less than the number of separations, employment declines, even if the hires level is steady or rising.
Over the 12 months ending in February, hires totaled 72.3 million and separations totaled 80.9 million, yielding a net employment loss of 8.6 million. These totals include workers who may have been hired and separated more than once during the year.
Establishment Size Class
JOLTS produces estimates for job openings, hires, and separations by establishment size. These estimates can provide additional insight into the internal dynamics of the labor market. There are six employment size classes: 1-9; 10-49; 50-249; 250-999; 1,000-4,999; and 5,000 or more employees. Utilizing these size classes, establishments can also be described as small (1-49 employees), medium (50-249), and large (250+). For a more in-depth description of the JOLTS establishment size class estimates, please visit www.bls.gov/jlt/sizeclassmethodology.htm.
In February, the hires rate increased in small establishments with 10-49 employees. In large establishments with 250-999 employees, the job openings rate increased.
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The Job Openings and Labor Turnover Survey estimates for March 2021 are scheduled to be released on Tuesday, May 11, 2021 at 10:00 a.m. (ET).
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