Job Openings and Labor Turnover: July 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 was little changed at 7.7 million on the last business day of July, the U.S. Bureau of Labor Statistics reported today. Over the month, hires changed little at 5.5 million. Total separations increased to 5.4 million. Within separations, quits (3.3 million) and layoffs and discharges (1.8 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 July, the number of job openings was little changed at 7.7 million and was down by 1.1 million over the year. The job openings rate, at 4.6 percent, changed little in July. The number of job openings decreased in health care and social assistance (-187,000); state and local government, excluding education (-101,000); and transportation, warehousing, and utilities (-88,000). Job openings increased in professional and business services (+178,000) and in federal government (+28,000). (See table 1.)

Hires

In July, the number and rate of hires changed little at 5.5 million and 3.5 percent, respectively. Hires increased in accommodation and food services (+156,000) but decreased in federal government (-8,000). (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 July increased to 5.4 million (+336,000). The total separations rate was little changed at 3.4 percent. Total separations increased in health care and social assistance (+108,000). (See table 3.)

In July, the number of quits was essentially unchanged at 3.3 million but was down by 338,000 over the year. Over the month, the quits rate changed little at 2.1 percent. Quits increased in information (+16,000). (See table 4.)

In July, the number and rate of layoffs and discharges changed little at 1.8 million and 1.1 percent, respectively. Layoffs and discharges increased in accommodation and food services (+75,000) and in finance and insurance (+21,000). (See table 5.)

The number of other separations increased to 381,000 (+71,000) in July. (See table 6.)

Establishment Size Class

In July, for establishments with 1 to 9 employees, the quits rate decreased, while the layoffs and discharges rate increased. The job openings rate, hires rate, and total separations rate changed little. For establishments with 5,000 or more employees, the job openings, hires, total separations, quits, and layoffs and discharges rates showed little or no change. (See table 7.)

June 2024 Revisions

The number of job openings for June was revised down by 274,000 to 7.9 million, the number of hires was revised down by 93,000 to 5.2 million, and the number of total separations was revised down by 11,000 to 5.1 million. Within separations, the number of quits was revised down by 68,000 to 3.2 million, and the number of layoffs and discharges was revised up by 62,000 to 1.6 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.)