Job Openings 7.367M in February

The number of job openings edged up to 7.4 million on the last business day of February, the U.S.
Bureau of Labor Statistics reported today. Hires also edged up to 5.7 million while total separations
were little changed at 5.5 million. Within separations, the quits rate and layoffs and discharges rate were unchanged 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, by four geographic regions, and by establishment size class.

Job Openings
On the last business day of February, the number of job openings edged up to 7.4 million (+268,000).
The job openings rate was little changed at 4.9 percent. Job openings increased in health care and social
assistance (+233,000); accommodation and food services (+104,000); and arts, entertainment, and
recreation (+56,000). The number of job openings decreased in state and local government education
(-117,000); educational services (-35,000); and information (-34,000). The number of job openings was
little changed in all four regions.

Hires
In February, the number of hires edged up to 5.7 million (+273,000). The hires rate was little changed at 4.0 percent. Hires increased in accommodation and food services (+220,000). Hires decreased in state and local government education (-80,000) and in educational services (-25,000). The number of hires increased in the South region.

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 February, the number and rate of total separations were little changed at 5.5 million and 3.8 percent,
respectively. The total separations level decreased in transportation, warehousing, and utilities (-97,000) and in federal government (-17,000). Total separations increased in construction (+90,000); state and local government education (+51,000); and educational services (+36,000). Total separations were little changed in all four regions.

In February, the quits level and rate were little changed at 3.4 million and 2.3 percent, respectively. The
number of quits increased in state and local government education (+29,000); educational services
(+22,000); and real estate and rental and leasing (+15,000). Quits decreased in federal government
(-7,000). The number of quits was little changed in all four regions. 

In February, the number and rate of layoffs and discharges were little changed at 1.8 million and 1.2
percent, respectively. The number of layoffs and discharges decreased in transportation, warehousing,
and utilities (-91,000) and in federal government (-6,000). Layoffs and discharges increased in finance
and insurance (+24.000). Layoffs and discharges decreased in the West region. 

The number of other separations was little changed in February at 323,000. Other separations increased
in state and local government education (+9,000) and in educational services (+4,000). Other separations decreased in real estate and rental and leasing (-7,000) and in federal government (-3,000). The other separations level was little changed in all four regions.

Net Change in Employment
Large numbers of hires and separations occur every month throughout the business cycle. Net
employment change results from the relationship between hires and separations. When the number of hires exceeds the number of separations, employment rises, even if the hires level is steady or declining.

Conversely, when the number of hires is less than the number of separations, employment declines, even if the hires level is steady or rising.

Over the 12 months ending in February, hires totaled 72.3 million and separations totaled 80.9 million,
yielding a net employment loss of 8.6 million. These totals include workers who may have been hired
and separated more than once during the year.