Job Openings and Labor Turnover: August 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 8.0 million on the last business day of August, the U.S. Bureau of Labor Statistics reported today. Over the month, hires changed little at 5.3 million. Total separations changed little at 5.0 million. Within separations, quits (3.1 million) continued to trend down and layoffs and discharges (1.6 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

The number of job openings was little changed at 8.0 million on the last business day of August but was down by 1.3 million over the year. The job openings rate, at 4.8 percent, changed little over the month. The number of job openings increased in construction (+138,000) and in state and local government, excluding education (+78,000). Job openings decreased in other services (-93,000). (See table 1.)

Hires

In August, the number and rate of hires changed little at 5.3 million and 3.3 percent, respectively. (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 August changed little at 5.0 million. The total separations rate decreased to 3.1 percent. Total separations increased in professional and business services (+149,000) but decreased in accommodation and food services (-111,000) and in state and local government, excluding education (-25,000). (See table 3.)

In August, the number of quits trended down to 3.1 million (-159,000), while the quits rate, at 1.9 percent, changed little. Quits decreased in transportation, warehousing, and utilities (-45,000); arts, entertainment, and recreation (-18,000); and private educational services (-11,000). (See table 4.)

In August, the number and rate of layoffs and discharges changed little at 1.6 million and 1.0 percent, respectively. Layoffs and discharges decreased in health care and social assistance (-52,000). (See table 5.)

The number of other separations changed little at 304,000 in August. (See table 6.)

Establishment Size Class

In August, establishments with 1 to 9 employees and establishments with 5,000 or more employees, showed little or no change in job openings, hires, and separations rates. (See table 7.)

July 2024 Revisions

The number of job openings for July was revised up by 38,000 to 7.7 million, the number of hires was revised down by 105,000 to 5.4 million, and the number of total separations was revised down by 106,000 to 5.3 million. Within separations, the number of quits was revised down by 34,000 to 3.2 million, and the number of layoffs and discharges was revised down by 49,000 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.)