Job Openings In August At Highest Level Since January 2001

There were 4.835 million job openings on the last business day of August, up from 4.605 million in July, the U.S. Bureau of Labor Statistics reported today. The hires rate (3.3 percent) was down and the separations rate (3.2 percent) was essentially unchanged in August. Within separations, the quits rate (1.8 percent) was unchanged and the layoffs and discharges rate (1.1 percent) was little changed. This release includes estimates of the number and rate of job openings, hires, and separations for the nonfarm sector by industry and by four geographic regions.

There were 4.835 million job openings on the last business day of August and the rate was 3.4 percent.
This was the highest level of job openings since January 2001. The number of job openings increased for total private and was little changed for government in August. Job openings levels went up in nondurable goods manufacturing, health care and social assistance, and in accommodation and food services. Job openings fell in state and local government and were little changed in all four regions.

The number of job openings (not seasonally adjusted) increased over the 12 months ending in August 2014 for total nonfarm, total private, and government. The job openings level increased in many of the industries and in all four regions.

There were 4.640 million hires in August, down from 4.934 million in July and the rate was 3.3 percent. The number of hires decreased for total private and was little changed for government. Hires decreased over the month in construction and retail trade and also in the South region.

Over the 12 months ending in August, the number of hires (not seasonally adjusted) was little changed for total nonfarm, total private, government, and in all four regions. The hires level decreased over the year for educational services.

Total separations include quits, layoffs and discharges, and other separations. Total separations are referred to as turnover. 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, and disability, as well as transfers to other locations of the same firm.

There were 4.440 million total separations in August and the rate was 3.2 percent. The number of separations was little changed from July for total nonfarm, total private, and government.

The number of quits was little changed in August at 2.473 million. The quits rate measured 1.8 percent for the seventh month in a row. The number of quits was also little changed in August for total private, government, and all four regions. The number of quits decreased in health care and social assistance


The layoffs and discharges level (not seasonally adjusted) was little changed over the 12 months ending in August for total nonfarm and total private, and was down for government. The number of layoffs and discharges increased for wholesale trade over the year and decreased for educational services, accommodation and food services, and state and local government. The number was down in the Midwest over the year.

In August, there were 387,000 other separations for total nonfarm, little changed from July. Over the month, the number of other separations was little changed for total private at 322,000 and for government at 65,000. (See table 6.) Seasonally adjusted estimates of other separations are not available for individual industries or regions.

Over the 12 months ending in August, the number of other separations (not seasonally adjusted) was little changed for total nonfarm, total private, and government.

Over the 12 months ending in August 2014, hires totaled 56.2 million and separations totaled 53.6 million, yielding a net employment gain of 2.5 million. These figures include workers who may have been hired and separated more than once during the year.

Recent History Of This Indicator:
The Labor Department's Job Openings and Labor Turnover Survey for July indicated that there were 4.673 million job openings on the last business day of the month, little changed from June's 4.675 million. The hires rate (3.5 percent) and the separations rate (3.3 percent) were unchanged in July. Within separations, the quits rate (1.8 percent) and the layoffs and discharges rate (1.2 percent) were unchanged. There were 4.872 million hires in July, compared to 4.791 million in June and the rate was 3.5 percent. There were 4.559 million total separations in July and the rate was 3.3 percent. The number of separations was little changed from June for total nonfarm, total private, and government.