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Job Openings and Labor Turnover Survey
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JOLTS 2024 Benchmark Article
Benchmarking Job Openings and Labor Turnover Estimates: 2024
Summary
With the release of January data for the Job Openings and Labor Turnover Survey (JOLTS), the Bureau of Labor Statistics (BLS) published its annual revisions to national and regional estimates. These estimates include job openings, hires, and total separations, as well as the three components of total separations—quits, layoffs and discharges, and other separations. Both seasonally adjusted and not seasonally adjusted data back to January 2020 are subject to revision.
When compared to the previously published seasonally adjusted estimates for January 2024, layoffs and discharges were revised upward +5.7 percent. All other data elements were revised downward, including -0.4 percent for total separations, -2.3 percent for hires, -2.8 percent for quits, -3.3 percent for job openings, and -6.0 percent for other separations (Table 1a). Average monthly revisions for all data element levels fell within the 5-year historical minimum and maximum revisions for 2019-2023 (Table 1b).
Benchmarking process
The JOLTS data are revised annually to reflect updates to the Current Employment Statistics (CES) employment estimates. The annual benchmarking process is done to ensure that employment levels, which are used in the calculation of JOLTS rates, reflect the most up-to-date CES employment measures. The JOLTS employment levels (not published) are ratio-adjusted to the revised CES employment levels, and the resulting ratios are applied to all JOLTS data elements. This annual benchmarking process results in revisions to both the seasonally adjusted and not seasonally adjusted JOLTS data series. The seasonally adjusted data are recalculated for the most recent 5 years to reflect updated seasonal adjustment factors.
Further, the alignment methodology creates a dependency of the not seasonally adjusted estimates on the seasonal adjustment process. Therefore, the data series that are not seasonally adjusted are also recalculated for the most recent 5 years to reflect the effect of the updated seasonal adjustment factors on the alignment process. See the JOLTS Handbook of Methods for more information.
Availability of revised estimates
Table 1c presents revised levels on a seasonally adjusted basis for January 2024 through December 2024. The revised data incorporates the effect of applying the new seasonally adjusted benchmark levels and the new seasonal adjustment factors.
Historical industry and regional revision data for each of the JOLTS data elements are shown in Tables 2a and 2b for seasonally adjusted and not seasonally adjusted levels. The BLS online database contains all historical JOLTS estimates that have been revised as a result of this annual benchmark process, including both seasonally adjusted and not seasonally adjusted data.
Benchmark Tables
| Data element | Seasonally adjusted | Not seasonally adjusted | ||||||
|---|---|---|---|---|---|---|---|---|
| As revised | As previously published | Level difference | Percent difference | As revised | As previously published | Level difference | Percent difference | |
|
Job openings |
8,468 | 8,748 | -280 | -3.3 | 8,564 | 8,845 | -281 | -3.3 |
|
Hires |
5,572 | 5,698 | -126 | -2.3 | 5,452 | 5,522 | -70 | -1.3 |
|
Total separations |
5,429 | 5,449 | -20 | -0.4 | 5,795 | 5,797 | -2 | 0.0 |
|
Quits |
3,353 | 3,446 | -93 | -2.8 | 3,256 | 3,303 | -47 | -1.4 |
|
Layoffs and discharges |
1,692 | 1,596 | 96 | 5.7 | 2,100 | 2,032 | 68 | 3.2 |
|
Other separations |
384 | 407 | -23 | -6.0 | 439 | 462 | -23 | -5.2 |
| Data element | Percent difference monthly range (2019-2023) | Percent difference monthly range (2024) | Percent difference absolute monthly average | |||
|---|---|---|---|---|---|---|
| Min | Max | Min | Max | 2019-2023 | 2024 | |
|
Job openings |
-7.9% | 4.6% | -6.7% | -1.2% | 1.6% | 3.4% |
|
Hires |
-6.4% | 13.0% | -3.9% | 0.6% | 2.0% | 1.8% |
|
Total separations |
-2.9% | 15.3% | -3.7% | 2.2% | 2.2% | 1.2% |
|
Quits |
-4.3% | 10.9% | -3.3% | 4.3% | 2.0% | 2.1% |
|
Layoffs and discharges |
-9.0% | 17.2% | -6.3% | 5.7% | 3.3% | 2.8% |
|
Other separations |
-13.1% | 15.8% | -19.7% | 11.1% | 4.5% | 6.6% |
| Month | Levels | Over-the-month changes | ||||
|---|---|---|---|---|---|---|
| As Revised | As Previously Published | Difference | As Revised | As Previously Published | Difference | |
|
Job Openings |
||||||
|
January |
8,468 | 8,748 | -280 | -117 | -141 | 24 |
|
February |
8,445 | 8,813 | -368 | -23 | 65 | -88 |
|
March |
8,093 | 8,355 | -262 | -352 | -458 | 106 |
|
April |
7,619 | 7,919 | -300 | -474 | -436 | -38 |
|
May |
7,901 | 8,230 | -329 | 282 | 311 | -29 |
|
June |
7,412 | 7,910 | -498 | -489 | -320 | -169 |
|
July |
7,504 | 7,711 | -207 | 92 | -199 | 291 |
|
August |
7,649 | 7,861 | -212 | 145 | 150 | -5 |
|
September |
7,103 | 7,372 | -269 | -546 | -489 | -57 |
|
October |
7,615 | 7,839 | -224 | 512 | 467 | 45 |
|
November |
8,031 | 8,156 | -125 | 416 | 317 | 99 |
|
December |
7,508 | 7,600 | -92 | -523 | -556 | 33 |
|
Hires |
||||||
|
January |
5,572 | 5,698 | -126 | -42 | -89 | 47 |
|
February |
5,664 | 5,781 | -117 | 92 | 83 | 9 |
|
March |
5,472 | 5,617 | -145 | -192 | -164 | -28 |
|
April |
5,584 | 5,615 | -31 | 112 | -2 | 114 |
|
May |
5,573 | 5,655 | -82 | -11 | 40 | -51 |
|
June |
5,088 | 5,248 | -160 | -485 | -407 | -78 |
|
July |
5,451 | 5,416 | 35 | 363 | 168 | 195 |
|
August |
5,230 | 5,435 | -205 | -221 | 19 | -240 |
|
September |
5,519 | 5,582 | -63 | 289 | 147 | 142 |
|
October |
5,350 | 5,394 | -44 | -169 | -188 | 19 |
|
November |
5,307 | 5,373 | -66 | -43 | -21 | -22 |
|
December |
5,374 | 5,462 | -88 | 67 | 89 | -22 |
|
Total Separations |
||||||
|
January |
5,429 | 5,449 | -20 | 87 | 30 | 57 |
|
February |
5,476 | 5,539 | -63 | 47 | 90 | -43 |
|
March |
5,268 | 5,330 | -62 | -208 | -209 | 1 |
|
April |
5,388 | 5,337 | 51 | 120 | 7 | 113 |
|
May |
5,314 | 5,397 | -83 | -74 | 60 | -134 |
|
June |
5,064 | 5,084 | -20 | -250 | -313 | 63 |
|
July |
5,434 | 5,314 | 120 | 370 | 230 | 140 |
|
August |
5,170 | 5,168 | 2 | -264 | -146 | -118 |
|
September |
5,197 | 5,196 | 1 | 27 | 28 | -1 |
|
October |
5,285 | 5,306 | -21 | 88 | 110 | -22 |
|
November |
5,087 | 5,231 | -144 | -198 | -75 | -123 |
|
December |
5,082 | 5,269 | -187 | -5 | 38 | -43 |
|
Quits |
||||||
|
January |
3,353 | 3,446 | -93 | -17 | 7 | -24 |
|
February |
3,468 | 3,527 | -59 | 115 | 81 | 34 |
|
March |
3,329 | 3,409 | -80 | -139 | -118 | -21 |
|
April |
3,414 | 3,452 | -38 | 85 | 43 | 42 |
|
May |
3,355 | 3,403 | -48 | -59 | -49 | -10 |
|
June |
3,284 | 3,214 | 70 | -71 | -189 | 118 |
|
July |
3,390 | 3,243 | 147 | 106 | 29 | 77 |
|
August |
3,177 | 3,178 | -1 | -213 | -65 | -148 |
|
September |
3,085 | 3,098 | -13 | -92 | -80 | -12 |
|
October |
3,217 | 3,283 | -66 | 132 | 185 | -53 |
|
November |
3,032 | 3,130 | -98 | -185 | -153 | -32 |
|
December |
3,095 | 3,197 | -102 | 63 | 67 | -4 |
|
Layoffs and Discharges |
||||||
|
January |
1,692 | 1,596 | 96 | 44 | -11 | 55 |
|
February |
1,681 | 1,681 | 0 | -11 | 85 | -96 |
|
March |
1,614 | 1,601 | 13 | -67 | -80 | 13 |
|
April |
1,587 | 1,542 | 45 | -27 | -59 | 32 |
|
May |
1,665 | 1,678 | -13 | 78 | 136 | -58 |
|
June |
1,467 | 1,560 | -93 | -198 | -118 | -80 |
|
July |
1,745 | 1,713 | 32 | 278 | 153 | 125 |
|
August |
1,697 | 1,668 | 29 | -48 | -45 | -3 |
|
September |
1,844 | 1,802 | 42 | 147 | 134 | 13 |
|
October |
1,788 | 1,748 | 40 | -56 | -54 | -2 |
|
November |
1,739 | 1,800 | -61 | -49 | 52 | -101 |
|
December |
1,669 | 1,771 | -102 | -70 | -29 | -41 |
|
Other Separations |
||||||
|
January |
384 | 407 | -23 | 60 | 34 | 26 |
|
February |
327 | 332 | -5 | -57 | -75 | 18 |
|
March |
325 | 320 | 5 | -2 | -12 | 10 |
|
April |
386 | 343 | 43 | 61 | 23 | 38 |
|
May |
294 | 316 | -22 | -92 | -27 | -65 |
|
June |
312 | 310 | 2 | 18 | -6 | 24 |
|
July |
300 | 359 | -59 | -12 | 49 | -61 |
|
August |
295 | 322 | -27 | -5 | -37 | 32 |
|
September |
268 | 296 | -28 | -27 | -26 | -1 |
|
October |
280 | 275 | 5 | 12 | -21 | 33 |
|
November |
316 | 301 | 15 | 36 | 26 | 10 |
|
December |
318 | 302 | 16 | 2 | 1 | 1 |
| Data element | Type | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Job openings |
Percent | -0.1 | 0.9 | 0.8 | -3.1 | 5.1 | -1.1 | 2.1 | 1.8 | 2.1 | -0.8 | -3.3 |
| Level | -4 | 43 | 44 | -165 | 333 | -85 | 149 | 127 | 235 | -84 | -281 | |
|
Hires |
Percent | 0.9 | 0.9 | 1.5 | 0.4 | -2.0 | 0.2 | 1.8 | 4.4 | 1.9 | 0.1 | -1.3 |
| Level | 40 | 41 | 75 | 23 | -105 | 12 | 102 | 238 | 118 | 4 | -70 | |
|
Total separations |
Percent | 0.4 | -0.2 | 1.3 | -0.9 | 0.0 | -0.6 | 0.8 | -4.3 | 3.9 | -0.2 | 0.0 |
| Level | 21 | -13 | 74 | -49 | -2 | -38 | 52 | -242 | 254 | -11 | -2 | |
|
Quits |
Percent | 0.0 | -0.1 | 1.9 | -0.8 | -4.8 | 0.3 | 0.1 | -3.6 | 4.4 | -0.4 | -1.4 |
| Level | -1 | -4 | 55 | -26 | -143 | 10 | 4 | -115 | 190 | -15 | -47 | |
|
Layoffs and discharges |
Percent | 1.8 | -1.1 | 1.3 | -0.6 | 5.5 | -0.6 | 2.5 | -5.8 | 3.3 | 1.3 | 3.2 |
| Level | 39 | -24 | 27 | -12 | 134 | -12 | 55 | -121 | 60 | 30 | 68 | |
|
Other separations |
Percent | -3.6 | 3.4 | -1.8 | -2.4 | 1.9 | -9.4 | -1.6 | -1.7 | 1.0 | -8.2 | -5.2 |
| Level | -16 | 15 | -9 | -11 | 8 | -36 | -7 | -6 | 5 | -27 | -23 | |
Last Modified Date: March 11, 2025