Research >> Economics
Job Openings changed little at 8.8 million in November 2023
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The number of job openings changed little at 8.8 million on the last business day of November, the U.S. Bureau of Labor Statistics reported today. Over the month, the number of hires and total separations decreased to 5.5 million and 5.3 million, respectively. Within separations, quits (3.5 million) edged down and layoffs and discharges (1.5 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
On the last business day of November, the number of job openings changed little at 8.8 million; this measure is down from a series high of 12.0 million in March 2022. The job openings rate was unchanged at 5.3 percent. Over the month, job openings decreased in transportation, warehousing, and utilities (-128,000) and in federal government (-58,000). Job openings increased in wholesale trade (+63,000).
Hires
In November, the number of hires decreased to 5.5 million (-363,000). The hires rate was little changed at 3.5 percent. The number of hires decreased in professional and business services (-163,000).
Separations
Total separations include quits, layoffs and discharges, and other separations. Quits are generally voluntary separations initiated by the employee. 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 November decreased to 5.3 million (-292,000), and the rate was little changed at 3.4 percent. Over the month, the number of total separations decreased in professional and business services (-158,000) and in educational services (-28,000).
In November, the number of quits edged down to 3.5 million (-157,000). The rate was little changed at 2.2 percent. The number of quits decreased in professional and business services (-77,000) and in educational services (-23,000).
In November, the number of layoffs and discharges changed little at 1.5 million, and the rate was unchanged at 1.0 percent. The number of layoffs and discharges decreased in durable goods manufacturing (-18,000).
The number of other separations changed little in November at 342,000.
Establishment Size Class
In November, the job openings, hires, and total separations rates changed little for establishments with 1 to 9 employees. The quits rate and total separations rate increased for establishments with 5,000 or more employees.
Posted: January 3, 2024 Wednesday 10:00 AM