US Job Openings and Labor Turnover Summary for January
Job Openings and Labor Turnover – January 2024
On Tuesday, the US Bureau of Labor Statistics (BLS) reported the results of its Job Openings and Labor Turnover Survey (JOLTS) for January. As of the last business day in January, the number of job openings changed little at 8.9 million. The BLS notes that this measure is down from a series high of 12.0 million in March 2022. The job openings rate was unchanged at 5.3%.
In January, the number of hires changed little at 5.7 million, and the hire rate held steady at 3.6%.
The total number of separations changed little at 5.3 million. The rate was unchanged for the third consecutive month at 3.4%.
The number of quits changed little at 3.4 million, and the rate was 2.1%.
The number and rate of layoffs and discharges changed little at 1.6 million, and the rate held steady at 1.0%.
The number of other separations in January was little changed at 384,000.
In January, the job openings, hires, and total separation rates changed little for establishments with 1 to 9 employees. The job openings rate declined for establishments with 5,000 employees or more.
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