Job Openings and Labor Turnover: March 2024

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 number of job openings changed little at 8.5 million on the last business day of March, the U.S. Bureau of Labor Statistics reported today. Over the month, the number of hires changed little at 5.5 million while the number of total separations decreased to 5.2 million. Within separations, quits (3.3 million) 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 March, the number of job openings changed little at 8.5 million; this measure was down by 1.1 million over the year. The rate was little changed at 5.1 percent in March. Job openings decreased in construction (-182,000) and in finance and insurance (-158,000), but increased in state and local government education (+68,000). (See table 1.)

Hires

In March, the number of hires was little changed at 5.5 million but was down by 455,000 over the year. The rate, at 3.5 percent, changed little in March. (See table 2.)

Separations

Total separations include quits, layoffs and discharges, and other separations. 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, disability, and transfers to other locations of the same firm.

The number of total separations in March decreased to 5.2 million (-339,000). The rate changed little at 3.3 percent. Over the month, the number of total separations increased in private educational services (+21,000). (See table 3.)

In March, the number of quits was little changed at 3.3 million but was down by 480,000 over the year. The rate was little changed at 2.1 percent in March. The number of quits decreased in other services (-59,000). (See table 4.)

In March, the number and rate of layoffs and discharges changed little at 1.5 million and 1.0 percent, respectively. The number of layoffs and discharges decreased in arts, entertainment, and recreation (-39,000) but increased in private educational services (+18,000). (See table 5.)

The number of other separations was little changed in March at 345,000. (See table 6.)

Establishment Size Class

In March, establishments with 1 to 9 employees and establishments with 5,000 or more employees saw little change in their job openings rate, hires rate, and total separations rate. (See table 7.)

February 2024 Revisions

The number of job openings for February was revised up by 57,000 to 8.8 million, the number of hires was revised down by 37,000 to 5.8 million, and the number of total separations was revised down by 20,000 to 5.5 million. Within separations, the number of quits was revised up by 43,000 to 3.5 million and the number of layoffs and discharges was revised down by 43,000 to 1.7 million. (Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.)