Job Openings and Labor Turnover: February 2005

Historical release narrative reproduced from the official public-domain source. Statistical tables, standard technical appendices, administrative material and attendance rosters are omitted; formatting is adapted for reading. Figures retain the release's historical context and may have been revised. Consult the linked source for the complete document.

The job openings rate was unchanged in February at 2.5 percent, while the hires and total separations rates were little changed at 3.5 and 3.1 percent, respectively, the Bureau of Labor Statistics of the U.S. Depart- ment of Labor reported today. This release includes estimates of the num- ber and rate of job openings, hires, and separations for the total nonfarm sector by industry and geographic region.

Job Openings

On the last business day of February 2005, there were 3.5 million job openings in the United States, and the job openings rate was 2.5 percent. (See table 1.) The job openings rate has generally trended upward since September 2003. In February, the job openings rate increased for govern- ment; trade, transportation, and utilities; and education and health ser- vices. The job openings rate fell in the professional and business ser- vices sector. The job openings rate rose slightly in the West region but showed little or no change in the other regions of the country.

Hires and Separations

The hires rate (the number of hires during the month divided by employ- ment) was 3.5 percent in February, essentially unchanged from a month ear- lier. (See table 2.) Hires are any additions to the payroll during the month. Professional and business services and leisure and hospitality were the only two industries showing significant change in the hires rate from January to February; both industries registered declines.

The total separations, or turnover, rate (the total number of separa- tions during the month divided by employment) was 3.1 percent in February. The overall total separations rate is near its most recent low reached in November 2003. Separations are terminations of employment that occur at any time during the month. (See table 3.) The total separations rate fell in the professional and business services industry and in the South region in February.

Total separations include quits (voluntary separations), layoffs and dis- charges (involuntary separations), and other separations (including retire- ments). The quits rate, which can serve as a barometer of workers' ability to change jobs, declined to 1.7 percent in February. (See table 4.) The quits rate fell in February for private industries overall, for the leisure and hospitality industry, and for the Northeast and South regions. The other two components of total separations, layoffs and discharges and other separa- tions, are not seasonally adjusted. The layoffs and discharges rate (1.0 per- cent) was little changed from February 2004 to February 2005; the other sepa- rations rate (0.2 percent) was unchanged. (See tables 9 and 10.)

Hires and separations data show dynamic flows in the labor market. Over the last 12 months, hires have averaged 4.6 million per month and separations have averaged 4.3 million per month. The comparable figures a year earlier were 4.1 million hires and 4.0 million separations. (See the Technical Note for additional information on these measures.)

For additional information, please see the Technical Note or the JOLTS Web site at www.bls.gov/jlt/. Additional information about JOLTS also may be obtained by e-mailing Joltsinfo@bls.gov or by calling (202) 691-5870.

The Job Openings and Labor Turnover release for March 2005 is scheduled to be issued on Tuesday, May 10, 2005.