Tuesday, November 08, 2016

BLS: Job Openings increased slightly in September

by Bill McBride on 11/08/2016 10:05:00 AM

From the BLS: Job Openings and Labor Turnover Summary

The number of job openings was little changed at 5.5 million on the last business day of September, the U.S. Bureau of Labor Statistics reported today. Hires edged down to 5.1 million and total separations was little changed at 4.9 million. ...
...
The number of quits was little changed in September at 3.1 million. The quits rate was 2.1 percent. Over the month, the number of quits was little changed for total private, and increased for government (+36,000).
emphasis added
The following graph shows job openings (yellow line), hires (dark blue), Layoff, Discharges and other (red column), and Quits (light blue column) from the JOLTS.

This series started in December 2000.

Note: The difference between JOLTS hires and separations is similar to the CES (payroll survey) net jobs headline numbers. This report is for September, the most recent employment report was for October.

Job Openings and Labor Turnover Survey Click on graph for larger image.


Note that hires (dark blue) and total separations (red and light blue columns stacked) are pretty close each month. This is a measure of labor market turnover.  When the blue line is above the two stacked columns, the economy is adding net jobs - when it is below the columns, the economy is losing jobs.

Jobs openings decreased in September to 5.486 million from 5.453 million in August.

The number of job openings (yellow) are up 2% year-over-year.

Quits are up 12% year-over-year. These are voluntary separations. (see light blue columns at bottom of graph for trend for "quits").

This is another solid report.