BLS Report: Hires and total separations decrease in November; job openings change little

[mahatmakanejeeves]

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.

Hires and total separations decrease in November; job openings change little
The number of job openings changed little at 8.8 million on the last business day of November. The number of hires and total separations decreased to 5.5 million and 5.3 million, respectively.

Economic News Release USDL-24-0001

Job Openings and Labor Turnover Summary
For release 10:00 a.m. (ET) Wednesday, January 3, 2024
Technical information: [phone] • [e-mail] • www.bls.gov/jlt
Media contact: [phone] • [e-mail]

JOB OPENINGS AND LABOR TURNOVER – NOVEMBER 2023

The number of job openings changed little at 8.8 million on the last business day of November, the U.S. Bureau of Labor Statistics reported today. Over the month, the number of hires and total separations decreased to 5.5 million and 5.3 million, respectively. Within separations, quits (3.5 million) edged down and layoffs and discharges (1.5 million) changed little. 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

On the last business day of November, the number of job openings changed little at 8.8 million; this measure is down from a series high of 12.0 million in March 2022. The job openings rate was unchanged at 5.3 percent. Over the month, job openings decreased in transportation, warehousing, and utilities (-128,000) and in federal government (-58,000). Job openings increased in wholesale trade (+63,000). (See table 1.)

Hires

In November, the number of hires decreased to 5.5 million (-363,000). The hires rate was little changed at 3.5 percent. The number of hires decreased in professional and business services (-163,000).(See table 2.)

Separations

Total separations include quits, layoffs and discharges, and other separations. Quits are generally voluntary separations initiated by the employee. 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.

The number of total separations in November decreased to 5.3 million (-292,000), and the rate was little changed at 3.4 percent. Over the month, the number of total separations decreased in professional and business services (-158,000) and in educational services (-28,000). (See table 3.)

In November, the number of quits edged down to 3.5 million (-157,000). The rate was little changed at 2.2 percent. The number of quits decreased in professional and business services (-77,000) and in educational services (-23,000). (See table 4.)

In November, the number of layoffs and discharges changed little at 1.5 million, and the rate was unchanged at 1.0 percent. The number of layoffs and discharges decreased in durable goods manufacturing (-18,000). (See table 5.)

The number of other separations changed little in November at 342,000. (See table 6.)

Establishment Size Class

In November, the job openings, hires, and total separations rates changed little for establishments with 1 to 9 employees. The quits rate and total separations rate increased for establishments with 5,000 or more employees. (See table 7.)
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The Job Openings and Labor Turnover Survey estimates for December 2023 are scheduled to be released on Tuesday, January 30, 2024, at 10:00 a.m. (ET).

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Some old previous reports:

Tue Oct 4, 2022: BLS Report: August job openings decrease; hires and total separations change little (this one)

Tue Aug 30, 2022: BLS Report: July job openings change little; hires and total separations also change little

Tue Aug 30, 2022: Job vacancies rose in July, dashing Fed hopes for cooling (in LBN)

Tue Aug 2, 2022: U.S. job openings at nine-month low; labor market still tight (in LBN)

Wed Jul 6, 2022: BLS Report: May job openings decrease; hires and total separations change little

Wed Jun 1, 2022: BLS Report: April job openings decrease; layoffs and discharges edge down to series low

Tue May 3, 2022: BLS Report: March job openings and quits reach series highs; total separations edge up

Tue Mar 29, 2022: BLS Report: February job openings and total separations change little; hires edge up

Wed Mar 9, 2022: BLS Report: January job openings, hires, and total separations change little

Tue Feb 9, 2021: BLS Report: Job openings and total separations little changed in December; hires decrease

Tue Jan 4, 2022: Job openings reach 10.6 million in November as tight labor market persists

Wed Dec 8, 2021: BLS Report: October job openings increase, total separations edge down, and hires change little

Fri Nov 12, 2021: BLS Report: September job openings and hires little changed, quits at a series high

Tue Oct 12, 2021: BLS Report: August job openings and hires decrease; total separations little changed

Wed Sep 8, 2021: BLS Report: July job openings increase to series high; hires and total separations little changed

Mon Aug 9, 2021: BLS Report: June job openings increase to series high; hires increase and total separations edge up

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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

[mahatmakanejeeves]

1. Job openings slide to 32-month low as U.S. hiring boom fades

Economic Report

Job openings slide to 32-month low as U.S. hiring boom fades

Last Updated: Jan. 3, 2024 at 10:51 a.m. ET
First Published: Jan. 3, 2024 at 10:08 a.m. ET
By Jeffry Bartash

New hires fall to lowest level since the pandemic

The numbers: Job openings fell in November to a 32-month low of 8.8 million in another sign that a prolonged U.S. hiring boom is fading in response to higher interest rates.

Job listings slid from a revised 8.9 million in October, the Labor Department said Wednesday.

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