BLS: Job Openings Decreased to 7.1 Million in February

Notes: In February there were 7.581 million job openings, and,
according to the February Employment report, there were 6.235
million unemployed. So, for the twelfth consecutive month, there
were more job openings than people unemployed. Also note that the
number of job openings has exceeded the number of hires since
January 2015 (over 4 years).

From the BLS: Job Openings and
Labor Turnover Summary

The number of job openings fell to 7.1 million on
the last business day of February
, the U.S. Bureau of Labor
Statistics reported today. Over the month, hires and separations
were little changed at 5.7 million and 5.6 million, respectively.
Within separations, the quits rate was unchanged at 2.3 percent and
the layoffs and discharges rate was little changed at 1.2 percent.

The number of quits was little changed in February at 3.5
million
. The quits rate was 2.3 percent. The quits level was
little changed for total private and for government.
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 February, the most recent employment report was for
March.

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 February to 7.087 million from 7.625
million in January.

The number of job openings (yellow) are up 9% year-over-year.

Quits are up 10% year-over-year. These are voluntary separations.
(see light blue columns at bottom of graph for trend for
“quits”).

Job openings remain at a high level, and quits are still increasing
year-over-year. Despite the decrease in job openings, this was
still a solid report.
Source: FS – All – Real Estate News 2
BLS: Job Openings Decreased to 7.1 Million in February