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mahatmakanejeeves

(62,903 posts)
Tue Feb 4, 2025, 10:06 AM Feb 4

BLS Report: December job openings decrease; hires and total separations change little

People come; people go.

This is JOLTS, the Job Openings and Labor Turnover Survey. It used to come out a few days after the monthly payroll employment report, but now it seems to run on its own schedule.

The number of quits indicates how confident people are of finding another job if they leave the one they have.

December job openings decrease; hires and total separations change little
The number of job openings decreased to 7.6 million on the last business day of December. Hires and total separations changed little at 5.5 million and 5.3 million, respectively.

Economic News Release USDL-25-0130

Job Openings and Labor Turnover Summary
For release 10:00 a.m. (ET) Tuesday, February 4, 2025
Technical information: (202) 691-5870 • JoltsInfo@bls.gov • www.bls.gov/jlt
Media contact: (202) 691-5902 • PressOffice@bls.gov

JOB OPENINGS AND LABOR TURNOVER – DECEMBER 2024

The number of job openings decreased to 7.6 million on the last business day of December, the U.S. Bureau of Labor Statistics reported today. Over the month, hires and total separations were little changed at 5.5 million and 5.3 million, respectively. Within separations, quits (3.2 million) and layoffs and discharges (1.8 million) changed little. This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, and by establishment size class.

Job Openings

The number of job openings decreased to 7.6 million (-556,000) on the last business day of December and was down by 1.3 million over the year. The job openings rate, at 4.5 percent, decreased over the month. The number of job openings decreased in professional and business services (-225,000), health care and social assistance (-180,000), and finance and insurance (-136,000). Job openings increased in arts, entertainment, and recreation (+65,000). (See table 1.)

Hires

In December, the number of hires changed little at 5.5 million but was down by 325,000 over the year. The hires rate remained unchanged at 3.4 percent over the month. Hires increased in finance and insurance (+48,000). (See table 2.)

Separations

Total separations include 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 include separations due to retirement, death, disability, and transfers to other locations of the same firm.

The number of total separations in December was little changed at 5.3 million. The total separations rate remained unchanged at 3.3 percent over the month. (See table 3.)

In December, the number of quits was little changed at 3.2 million but declined by 242,000 over the year. Over the month, the quits rate was unchanged at 2.0 percent. Quits decreased in transportation, warehousing, and utilities (-42,000). (See table 4.)

In December, the number of layoffs and discharges changed little at 1.8 million. The rate remained unchanged at 1.1 percent. Layoffs and discharges increased in transportation, warehousing, and utilities (+87,000), and in mining and logging (+6,000). (See table 5.)

The number of other separations was essentially unchanged at 302,000 in December. (See table 6.)

Establishment Size Class

In December, establishments with 1 to 9 employees showed little or no change in job openings, hires, total separations, quits, and layoffs and discharges rates. For establishments with 5,000 or more employees, the layoffs and discharges rate and total separations rate increased, while the job openings, hires, and quits rates showed little or no change. (See table 7.)

November 2024 Revisions

The number of job openings for November was revised up by 58,000 to 8.2 million, the number of hires was revised up by 104,000 to 5.4 million, and the number of total separations was revised up by 105,000 to 5.2 million. Within separations, the number of quits was revised up by 65,000 to 3.1 million, and the number of layoffs and discharges was revised up by 35,000 to 1.8 million. (Monthly revisions result from additional reports received from businesses and government agencies since the last published estimates and from the recalculation of seasonal factors.)
____________
The Job Openings and Labor Turnover Survey estimates for January 2025 are scheduled to be released on Tuesday, March 11, 2025, at 10:00 a.m. (ET).

______________________________________________________________________________________________________
| Upcoming Revisions to the JOLTS Estimates
|
|As part of its regular annual process, the release of January 2025 estimates on March 11, 2025, will
|incorporate the annual updates to the Current Employment Statistics employment estimates and the
|JOLTS seasonal adjustment factors. Unadjusted data and seasonally adjusted data from January 2020
|forward are subject to revision.
|_____________________________________________________________________________________________________

{snip a bunch of tables}

* * * * *

Facilities for Sensory Impaired

Information from these releases will be made available to sensory impaired individuals upon request. Voice phone: 202-691-5200, Federal Relay Services: 1-800-877-8339.

-- -- -- -- -- --

Some previous reports. I don't post them every month anymore.

Tue Feb 4, 2025: BLS Report: December job openings decrease; hires and total separations change little (this one)

Tue Jan 7, 2025: BLS Report: November job openings, hires, and total separations change little; quits decrease

Tue Jan 7, 2025: US job openings inch higher as hiring, quitting rates drop amid broader labor slowdown (in LBN)

Tue Dec 3, 2024, 01:21 PM: Job openings jumped and hiring slumped in October, key labor report for the Fed shows

Tue Dec 3, 2024, 10:03 AM: BLS Report: October job openings, hires, and total separations change little; quits increase

Tue Oct 29, 2024, 01:09 PM: BLS Report: September job openings and hires change little; total separations unchanged

Tue Oct 29, 2024, 12:24 PM: Consumer confidence surges as election nears, while job openings move lower

Tue Oct 1, 2024: BLS Report: August job openings, hires, and total separations change little; quits trend down

Tue Oct 1, 2024: US job openings rise to 8 million as labor market remains sturdy (in LBN)

Wed Sep 4, 2024, 12:07 PM: US job openings fall as demand for workers weakens (in LBN)

Wed Sep 4, 2024, 10:22 AM: BLS Report: July job openings and hires change little; total separations increase

Tue Jul 30, 2024: JOLTS - Job Opening & Labor Turnover - nice graph of Openings and Quits. A slight decline in labor mkt conditions

Tue Jul 2, 2024: BLS Report: May job openings, hires, and total separations change little

Wed Jun 5, 2024: BLS Report: April job openings, hires, and total separations change little

Wed May 1, 2024: BLS Report: March job openings and hires change little; total separations decrease

Wed May 1, 2024, 12:28 PM: US job openings fall to 8.5 million in March, the lowest level in more than 3 years (in LBN)

Tue Apr 2, 2024, 03:39 PM: BLS Report: February job openings, hires, and total separations change little

Tue Apr 2, 2024, 03:22 PM: Job openings data shows US labor market remains 'quite healthy' (in LBN)

{snip the rest}

Related:

Wed Jan 27, 2021: BLS Report: Gross job losses 20.4 million and gross job gains 5.7 million in the 2nd quarter of 2020
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