BLS Report: May job openings and hires little changed; total separations decrease

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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:

Tue Jun 8, 2021: BLS Report: April job openings reach series high; total separations increase and hires little change

Tue May 11, 2021: BLS Report: March job openings reach a series high; hires and total separations little changed

Tue Apr 6, 2021: BLS Report: Job openings and hires edge up in February; total separations little changed

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

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May job openings and hires little changed; total separations decrease

Economic News Release USDL-21-1266

Job Openings and Labor Turnover Summary

For release 10:00 a.m. (ET) Wednesday, July 7, 2021
Technical information: [phone] • [e-mail] • www.bls.gov/jlt
Media contact: [phone] • [e-mail]

JOB OPENINGS AND LABOR TURNOVER – MAY 2021

The number of job openings was little changed at 9.2 million on the last business day of May, the U.S. Bureau of Labor Statistics reported today. Hires were little changed at 5.9 million. Total separations decreased to 5.3 million. Within separations, the quits rate decreased to 2.5 percent. The layoffs and discharges rate, while little changed over the month, hit a series low of 0.9 percent. 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 May, the job openings level changed little at 9.2 million. The job openings rate was unchanged at 6.0 percent. Job openings increased in other services (+109,000), state and local government education (+46,000), and educational services (+35,000). The number of job openings decreased in arts, entertainment, and recreation (-80,000); state and local government, excluding education (-56,000); and federal government (-17,000). The number of job openings was little changed in all four regions. (See table 1.)

Hires

In May, the number and rate of hires changed little at 5.9 million and 4.1 percent, respectively. Hires decreased in state and local government, excluding education (-56,000) and in federal government (-10,000). The number of hires decreased in the Northeast 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 May, the number and rate of total separations decreased to 5.3 million (-485,000) and 3.7 percent, respectively. The total separations level decreased in four industries, with the largest decreases in professional and business services (-192,000); transportation, warehousing, and utilities (-53,000); and state and local government education (-42,000). Total separations decreased in the South and West regions. (See table 3.)

In May, the quits level and rate decreased to 3.6 million and 2.5 percent, respectively. Quits decreased in a number of industries with the largest decreases in professional and business services (-181,000); transportation, warehousing, and utilities (-46,000); and durable goods manufacturing (-25,000). The number of quits decreased in the Northeast and South regions. (See table 4.)

In May, the number of layoffs and discharges was little changed at 1.4 million. The rate was also little changed at 0.9 percent, a series low. The number of layoffs and discharges decreased in educational services (-21,000). Layoffs and discharges were little changed in all four regions. (See table 5.)

The number of other separations was little changed in May at 346,000. Other separations decreased in retail trade (-30,000), state and local government education (-12,000), and educational services (-3,000). Other separations increased in health care and social assistance (+22,000). 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 May, hires totaled 73.0 million and separations totaled 64.8 million, yielding a net employment gain of 8.2 million. These totals include workers who may have been hired and separated more than once during the year.

Establishment Size Class

In May, the quits rate decreased in medium establishments with 50-249 employees and large establishments with 250-999 employees. The total separations rate for large establishments with 250-999 employees decreased in May. For a more in-depth description of the JOLTS establishment size class estimates, please visit www.bls.gov/jlt/sizeclassmethodology.htm.

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The Job Openings and Labor Turnover Survey estimates for June 2021 are scheduled to be released on Monday, August 9, 2021 at 10:00 a.m. (ET).

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