June 5, 2018
The U.S Bureau of Labor Statistics revealed that the number of job openings was little changed at 6.7 million on the last business day of April. Over the said month, there were little change in the number of hires and separations which amounted to 5.6 million and 5.4 million respectively. However, within separations, layoffs and discharges rate increased to 1.2 percent whereas the quit rate was unchanged at 2.3 percent
Job Openings
Even-though the job openings level was little changed up to the last business day of April, job openings has been its highest since December 2000. The job openings rate was 4.3 percent in April 2018. The number of job openings was little changed for total private and for Government. Job openings increased in durable goods manufacturing (+33,000) and information (+26,000) but decreased in finance and insurance (-84,000). The number of job openings was little changed in all four regions.
Hires
The number of hires was little changed at 5.6 million in April. The hires rate was 3.8 percent. Hires for total private and for Government were little changed. The number of hires was little changed in all industries and in all four regions.
Separations
Total separations or turnover includes quits, layoffs and discharges, and other separations. Other separations includes separations due to retirement, death, disability, and transfers to other locations of the same firm. The total separations rate was 3.6 percent or 5.4 million in April. The number of total separations was little changed for total private and for Government. However, total separations increased in state and local Government education (+20,000).
The number of layoffs and discharges edged up to 1.7 million in April. The layoffs and discharges rate increased to 1.2 percent over the month. The number of layoffs and discharges edged up for total private and was little changed for Government. Layoffs and discharges increased in arts, entertainment, and recreation (+51,000) and in finance and insurance (+27,000).
Net Change in Employment
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 April, hires totaled 66.1 million and separations totaled 63.7 million, yielding a net employment gain of 2.4 million.
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