The job openings rate was unchanged in June; the rate has held at 1.9 percent since March 2009. The number of job openings varied little over the last four months, after falling by 2.2 million, or 45 percent, from June 2007 to March 2009. The job openings rate was little changed in June in every industry and region.
Over the 12 months ending in June, the job openings rate (not
seasonally adjusted) fell for total nonfarm, total private, government, and a majority of the industries. The exceptions were construction; wholesale trade; retail trade; finance and insurance; real estate and rental and leasing; educational services; other services; and federal government, which were little changed. Three of the four regions experienced a drop in the job openings rate in the 12 months ending in June: Midwest, South, and West.
Hires
The hires level was little changed at 3.8 million in June but has declined by 1.9 million, or 33 percent, since the recent peak in July 2006. The hires rate was 2.9 percent in June. The hires rate declined over the month in construction and trade, transportation, and utilities. The rate increased over the month in education and health services.
Over the 12 months ending in June, the hires rate (not seasonally
adjusted) declined for total nonfarm, total private, government, and many industries. The rate rose in the other services industry. The
industries with little change in the rate were nondurable goods
manufacturing; transportation, warehousing, and utilities; information; real estate and rental and leasing; educational services; health care and social assistance; and arts, entertainment, and recreation. The hires rate fell over the past 12 months in three of the four regions: Midwest, South, and West.
Separations
The total separations, or turnover, rate was unchanged in June and remained low at 3.3 percent. The total separations rate (not seasonally adjusted) decreased over the 12 months ending in June for total nonfarm and total private. Total separations includes quits (voluntary separations), layoffs and discharges (involuntary separations), and other separations (including retirements).
The quits rate can serve as a measure of workers’ willingness or ability to change jobs. The rate was unchanged in June and remained low at 1.4 percent. The quits level was 1.8 million in June, which is 43 percent lower than the recent peak in December 2006.
Over the 12 months ending in June, the quits rate (not seasonally
adjusted) was lower for total nonfarm, total private, government, nearly every industry, and all four regions. The three industries in
which the quits rate was little changed over the year were information; educational services; and arts, entertainment, and recreation. The only industry in which the quits rate rose over the year was federal government.
The layoffs and discharges component of total separations is seasonally adjusted at the total nonfarm, total private, and government levels. Layoffs and discharges levels were little changed
in June at 2.2 million for total nonfarm, 2.0 million for total private, and 150,000 for government. The corresponding layoffs and discharges rates were 1.6 percent, 1.8 percent, and 0.7 percent, respectively. The number of layoffs for the U.S. in June was 35 percent higher than the recent low in January 2006.
The layoffs and discharges rate (not seasonally adjusted) was little changed over the 12 months ending in June at the total nonfarm and total private levels after rising over the year in January through May. Although the total nonfarm layoffs and discharges rate was little changed over the 12 months ending in June, the rate rose in mining and logging; durable goods manufacturing; federal government; and state and local government. The remaining industries and all four regions were little changed over the year.
The other separations series is not seasonally adjusted. In June, there were 363,000 other separations for total nonfarm, 251,000 for total private, and 111,000 for government. Compared to June 2008, the number of other separations was little changed for total nonfarm and total private, but higher for government.
The total separations level is influenced by the relative contribution of its three components—quits, layoffs and discharges, and other separations. The percentage of total separations at the total nonfarm level attributable to the individual components has varied over time. After the proportion of quits decreased to an alltime low of 38 percent in April 2009, it increased to 42 percent of total separations in June 2009. The proportion of layoffs and discharges moved in the opposite direction, increasing to an all-time high of 54 percent in April 2009, and then decreasing to 50 percent in June 2009.
Net Change in Employment
In each month from July 2008 to June 2009, separations exceeded hires. Over the 12 months ending in June, hires totaled 51.8 million and separations totaled 57.1 million, yielding a net employment loss of 5.3 million.
