From the BLS: Job Openings and labour Turnover Summary
There were 2.8 million job openings on the last business day of January 2011, the U.S. Bureau of labour Statistics reported today. The job openings rate (2.1 per cent), hires rate (2.8 per cent), and total separations rate (2.7 per cent) were little changed over the month.
The following graph shows job openings (yellow line), hires (purple), Layoff, Discharges and other (red column), and Quits (light blue column) from the JOLTS.
Unfortunately this is a new series and only started in December 2000.
Photo: Calculated Risk
Note: The difference between JOLTS hires and separations is similar to the CES (payroll survey) net jobs headline numbers. This report is for January, the most recent employment report was for February.Notice that hires (purple) and total separations (red and blue columns stacked) are pretty close each month. When the purple line is above the two stacked columns, the economy is adding net jobs – when it is below the columns, the economy is losing jobs.
In January, about 3.555 million people lost (or left) their jobs, and 3.712 million were hired (this is the labour turnover in the economy) adding 157 thousand total jobs.
In general job openings (yellow) has been trending up – and are up 15% from January 2010 – although openings have declined over the last two months.
The overall turnover remains low with a record low number of “quits” in January. There has been little pickup in hiring over the last 18 months – just a decline in “quits” and total separations.