Job Openings 6.917M in January

The number of job openings changed little at 6.9 million on the last business day of January, the U.S. Bureau of Labor Statistics reported today. Hires were little changed at 5.3 million while total separations decreased to 5.3 million. Within separations, the quits rate and layoffs and discharges rate changed little at 2.3 percent and 1.2 percent, respectively. This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, and by four geographic regions. The release also includes 2020 annual estimates for hires and separations. The annual number of hires at 73.1 million and the annual number of layoffs and discharges at 41.0 million increased in 2020. The annual number of quits at 36.3 million decreased in 2020.

Job Openings
On the last business day of January, the number and rate of job openings were little changed at 6.9 million and 4.6 percent, respectively. Job openings increased in state and local government education (+56,000); educational services (+21,000); and mining and logging (+10,000). The number of job openings was little changed in all four regions.
Over the year, the number of job openings (not seasonally adjusted) was little changed in January. Job openings decreased in a number of industries over the year with the largest decreases in accommodation and food services; state and local government, excluding education; and arts, entertainment, and  recreation. The job openings level increased over the year in nondurable goods manufacturing; durable goods manufacturing; and mining and logging. The number of job openings decreased in the West region. 

Hires
In January, the number and rate of hires were little changed at 5.3 million and 3.7 percent, respectively. Hires increased in arts, entertainment, and recreation (+59,000) and in educational services (+25,000). Hires decreased in federal government (-15,000). The number of hires decreased in the South region.
The number of hires in January (not seasonally adjusted) decreased over the year (-696,000). Hires decreased in a number of industries with the largest decreases in accommodation and food services; professional and business services; and health care and social assistance. The number of hires decreased in the South and West regions.  

Separations
Total separations includes 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 includes separations due to retirement, death, disability, and transfers to other locations of the same firm.
In January, the number of total separations decreased to 5.3 million (-275,000), and the total separations rate was little changed at 3.7 percent. The total separations level decreased in accommodation and food services (-242,000); educational services (-38,000); and state and local government education (-27,000). Total separations increased in transportation, warehousing, and utilities (+87,000) and in federal government (+9,000). Total separations were little changed in all four regions.