Job openings reach series high, according to U.S. Bureau of Labor Statistics
The Bureau news release on February 12, 2019, provides evidence of the high number of job openings. The number of job openings arrived at a substantial series high of 7.3 million at the end of December. Both hires and separations were found to have little change at bout 5.9 million and 5.5 million. Regarding separations, the quits rate remained unchanged with 2.3 percent. Additionally, the rate of layoffs and discharges expressed little change with a minimal 1.1 percent.
A closer look at job openings
What exactly do the numbers represent? The rate for job openings was little changed at 4.7 percent at the end of December. The greatest increases were found in:
- accommodation and food services,
- health care and social assistance.
Industries in which job openings decreased include:
- Nondurable goods manufacturing,
- Federal government,
- Real estate and rental leasing
The number of hired positions reached 5.9 million in December. Hires express an increase for:
- Retail trade
- Educational services
- Mining and logging
Hires express decrease for :
- Federal government
The total separations, or turnover, consists of quits, layoffs, discharges, and other types of separations, such as retirement, death, disability, and transfers. Quits indicate workers’ ability to leave jobs. Ultimately, the numbers for these categories was little changed except for other separations.
So What Do the Numbers Tell Us About Net Change in Employment?
In summary, a rise in employment occurs when the number of hires is greater than the number of separations. Employment declines, when the number of hires is less than the number of separations. The year 2018 ended with a total of 68.5 million hires and 65.9 million separations. The net employment resulted in a gain of 2.6 million.
How Does the Net Change in Employment Impact Me?
To conclude, the net change analysis provides an in-depth look at the employment changes for 2018. As we understand the state of the job economy, we can determine how it relates to us and how we fit into the bigger picture. Generally speaking, employment opportunities are up, so finding work is a matter of finding your ideal job match. Get your online degree, certification, license, continuing education courses, and training updates at. With up to date training and convenient online access, you can be employment-ready for your ideal job!
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