There were 2.7 million job openings on the last business day of February 2010, the U.S. Bureau of Labor Statistics reported on April 6. The job openings rate was little changed over the month at 2.1 percent. The hires rate (3.1 percent) and the separations rate (3.1 percent) were also little changed in February. This release includes estimates of the number and rate of job openings, hires and separations for the total non-farm sector by industry and geographic region.
Job Openings
The number of job openings was little changed in February at 2.7 million. Although little changed over the month, the level has trended upward since the most recent trough of 2.3 million in July 2009. The job openings level was little changed in February for most industries and all four regions.
In February, the number of job openings was little different from 12 months earlier for total non-farm, total private and government. The job openings level was little changed in most industries and in three of the four regions over the year; the level fell in the South.
Hires
The hires rate was little changed in February at 3.1 percent. The rate has remained between 3.0 percent and 3.2 percent since November 2008. After falling from the most recent peak of 5.6 million hires in January 2005, the hires level reached a low point of 3.9 million in June 2009. In February 2010, the hires level was 4.0 million. The hires rate was little changed in February for all industries and three of the four regions; the rate decreased in the Northeast.
Over the 12 months ending in February, the hires rate (not seasonally adjusted) was unchanged for total non-farm and total private, but increased for government. The hires rate was little changed in the remaining industries and in all four regions over the year.
Separations
Total separations includes quits (voluntary separations), layoffs and discharges (involuntary separations) and other separations (including retirements). The total separations, or turnover, rate was little changed in February for total non-farm and remained low at 3.1 percent. The rate was little changed for total private and government. The total separations rate (not seasonally adjusted) decreased over the 12 months ending in February for total non-farm and total private, while the rate for government was little changed.
The quits rate can serve as a measure of workers’ willingness or ability to change jobs. In February, the quits rate was little changed for total non-farm (1.4 percent), total private (1.6 percent) and government (0.6 percent). The rate was little changed over the month for most industries while increasing in the Northeast and West regions. After falling from the most recent peak of 3.2 million in November 2006, the number of quits has hovered between 1.7 million and 1.8 million since April 2009.
Over the 12 months ending in February, the quits rate (not seasonally adjusted) was little changed for total non-farm, total private and government as well as in almost every industry and region.
The layoffs and discharges component of total separations is seasonally adjusted at the total non-farm, total private and government levels. The layoffs and discharges level was little changed in February for total non-farm (1.8 million), total private (1.7 million) and government (110,000). Although little changed over the month, the number of layoffs and discharges has trended downward since peaking in January 2009 for total non-farm and total private and since June 2009 for government.
The layoffs and discharges rate (not seasonally adjusted) fell over the 12 months ending in February for total non-farm and total private, and was little changed for government. The layoffs and discharges rate fell over the year in many industries and in three of the four regions – Midwest, South and West.