Job Openings and Labor Turnover: May 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 8.1 million on the last business day of May, the U.S. Bureau of Labor Statistics reported today. Over the month, both the number of hires and total separations were little changed at 5.8 million and 5.4 million, respectively. Within separations, quits (3.5 million) and layoffs and discharges (1.7 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 May, the number of job openings changed little at 8.1 million. This measure was down by 1.2 million over the year. The job openings rate was little changed at 4.9 percent in May. Job openings decreased in accommodation and food services (-147,000) and in private educational services (-34,000). The number of job openings increased in state and local government, excluding education (+117,000), durable goods manufacturing (+97,000), and federal government (+37,000). (See table 1.)

Hires

In May, the number of hires was little changed at 5.8 million. Over the year, hires were down by 415,000. The hires rate was little changed at 3.6 percent in May. (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 May changed little at 5.4 million. This measure was down by 424,000 over the year. The total separations rate remained unchanged at 3.4 percent in May. (See table 3.)

In May, the number of quits was little changed at 3.5 million. Over the year, quits were down by 550,000. The quits rate was 2.2 percent in May, the seventh month in a row. (See table 4.)

In May, the number of layoffs and discharges changed little at 1.7 million, and the rate remained unchanged at 1.0 percent. (See table 5.)

The number of other separations was little changed in May at 309,000. (See table 6.)

Establishment Size Class

In May, for establishments with 1 to 9 employees, the job openings rate, hires rate, and total separations rate changed little. For establishments with 5,000 or more employees, the layoffs and discharges rate increased while the job openings rate, hires rate, and total separations rate changed little. (See table 7.)

April 2024 Revisions

The number of job openings for April was revised down by 140,000 to 7.9 million, the number of hires was revised down by 25,000 to 5.6 million, and the number of total separations was revised down by 35,000 to 5.3 million. Within separations, the number of quits was revised down by 55,000 to 3.5 million and the number of layoffs and discharges was revised up by 27,000 to 1.5 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.)