Job Openings and Labor Turnover: December 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 decreased to 7.6 million on the last business day of December, the U.S. Bureau of Labor Statistics reported today. Over the month, hires and total separations were little changed at 5.5 million and 5.3 million, respectively. Within separations, quits (3.2 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

The number of job openings decreased to 7.6 million (-556,000) on the last business day of December and was down by 1.3 million over the year. The job openings rate, at 4.5 percent, decreased over the month. The number of job openings decreased in professional and business services (-225,000), health care and social assistance (-180,000), and finance and insurance (-136,000). Job openings increased in arts, entertainment, and recreation (+65,000). (See table 1.)

Hires

In December, the number of hires changed little at 5.5 million but was down by 325,000 over the year. The hires rate remained unchanged at 3.4 percent over the month. Hires increased in finance and insurance (+48,000). (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 December was little changed at 5.3 million. The total separations rate remained unchanged at 3.3 percent over the month. (See table 3.)

In December, the number of quits was little changed at 3.2 million but declined by 242,000 over the year. Over the month, the quits rate was unchanged at 2.0 percent. Quits decreased in transportation, warehousing, and utilities (-42,000). (See table 4.)

In December, the number of layoffs and discharges changed little at 1.8 million. The rate remained unchanged at 1.1 percent. Layoffs and discharges increased in transportation, warehousing, and utilities (+87,000), and in mining and logging (+6,000). (See table 5.)

The number of other separations was essentially unchanged at 302,000 in December. (See table 6.)

Establishment Size Class

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

November 2024 Revisions

The number of job openings for November was revised up by 58,000 to 8.2 million, the number of hires was revised up by 104,000 to 5.4 million, and the number of total separations was revised up by 105,000 to 5.2 million. Within separations, the number of quits was revised up by 65,000 to 3.1 million, and the number of layoffs and discharges was revised up by 35,000 to 1.8 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.)