Job Openings and Labor Turnover: March 2014

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.

There were 4.0 million job openings on the last business day of March, little changed from 4.1 million in February, the U.S. Bureau of Labor Statistics reported today. The hires rate (3.4 percent) and separations rate (3.2 percent) were unchanged in March. Within separations, the quits rate (1.8 percent) was unchanged and the layoffs and discharges rate (1.1 percent) was little changed in March. This release includes estimates of the number and rate of job openings, hires, and separations for the nonfarm sector by industry and by geographic region.

Job Openings

There were 4.0 million job openings in March, little changed from 4.1 million in February. The number of job openings was little changed for total private and for government. The number of job openings was little changed in all industries. The West region experienced a decrease in job openings in March. (See table 1.)

The number of job openings (not seasonally adjusted) was little changed over the year ending in March for total nonfarm, total private, and government. Over the year, the job openings level increased in three industries and decreased in three industries. Over the 12 months ending in March, the number of job openings increased in the Midwest region but decreased in the Northeast. (See table 7.)

Hires

There were 4.6 million hires in March, little changed from 4.7 million in February. The number of hires was little changed for total private and for government. In March, the number of hires was little changed in all industries and regions. (See table 2.)

Over the 12 months ending in March, the number of hires (not seasonally adjusted) increased for total nonfarm and total private and was little changed for government. The hires level increased over the year in four industries and decreased in construction. The number of hires rose in the South region. (See table 8.)

Separations

Total separations includes quits, layoffs and discharges, and other separations. Total separations is referred to as turnover. 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 include separations due to retirement, death, and disability, as well as transfers to other locations of the same firm.

There were 4.4 million total separations in March, little changed from February. The number of total separations was essentially unchanged for total private and government. (See table 3.)

In March, the quits rate was unchanged at 1.8 percent for total nonfarm. The rate also was unchanged for total private (2.0 percent) and government (0.6 percent). The quits rate was essentially unchanged over the month in all industries and in all four regions. (See table 4.)

The number of quits (not seasonally adjusted) increased over the 12 months ending in March for total nonfarm and total private. The quits level was little changed in government. The number of quits increased in four industries and in the South and West regions over the year. (See table 10.)

The layoffs and discharges rate was little changed in March at 1.1 percent. The rate was unchanged over the month for total private (1.3 percent) and government (0.4 percent). The layoffs and discharges rate was unchanged in all four regions. Seasonally adjusted estimates of layoffs and discharges are not available for individual industries. (See table 5.)

The layoffs and discharges level (not seasonally adjusted) was little changed over the 12 months ending in March for total nonfarm, total private, and government. The number of layoffs and discharges increased in mining and logging and information but decreased in other services and federal government. The number of layoffs and discharges decreased in the Northeast region. (See table 11.)

In March, there were 381,000 other separations for total nonfarm, little changed from February. The number of other separations was little changed over the month for total private and government. (See table 6.) Seasonally adjusted estimates of other separations are not available for individual industries or regions. Over the 12 months ending in March, the number of other separations (not seasonally adjusted) was little changed for total nonfarm, total private, and increased for government. (See table 12.)

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 March 2014, hires totaled 54.7 million and separations totaled 52.5 million, yielding a net employment gain of 2.2 million. These figures include workers who may have been hired and separated more than once during the year.