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errata
Corrections to this article were made on October 17, 2018. Specifically, table 2 was revised to remove an inadvertent row of data for the Northeast, April, 1.2 million.
Article
October 2018
Job openings reach a new high in 2017, hires and quits also increase
According to data from the U.S. Bureau of Labor Statistics Job Openings and Labor Turnover Survey, job openings and hires continued an upward trend in 2017, with the job openings level at its highest since the series began in December 2000. Similarly, annual hires and quits levels increased over multiple years and throughout 2017.
Job Openings and Labor Turnover Survey (JOLTS) data elements series generally trended upward for total nonfarm and total private industries over 2017. In September 2017, the job openings level was 6.2 million, the highest monthly level since the job openings series began in December 2000. The annual hires level increased from 63.2 million in 2016 to 65.3 million in 2017. The annual total separations level increased from 60.9 million in 2016 to 63.0 million in 2017.
Within total separations, quits rose from 36.3 million in 2016 to 38.2 million in 2017. Layoffs and discharges increased slightly from 20.2 million in 2016 to 20.7 million in 2017. Other separations decreased from 4.4 million in 2016 to 4.2 million in 2017.
This article reviews 2017 JOLTS data at the total nonfarm level, by industry, and by region.[1] JOLTS produces monthly data on job openings, hires, quits, layoffs and discharges, and other separations from a sample of approximately 16,000 establishments. This sample comprises establishments from all 50 states, the District of Columbia, and all nonfarm industries as classified by the North American Industry Classification System (NAICS).[2] This sample allows publication of data by four census regions and by select two-digit NAICS codes. For definitions of JOLTs terms, see accompanying box.
Definitions of JOLTS terms*
Job openings
Job openings information is collected for the last business day of the reference month. A job opening requires that (1) a specific position exists and work is available for that position, (2) work could start within 30 days whether or not the employer found a suitable candidate, and (3) the employer is actively recruiting from outside the establishment to fill the position. Included are full-time, part-time, permanent, short-term, and seasonal openings. Active recruiting means that the establishment is taking steps to fill a position by advertising in newspapers or on the internet, posting help-wanted signs, accepting applications, or using other similar methods.
Jobs to be filled only by internal transfers, promotions, or recall from layoffs are excluded. Also excluded are jobs with start dates more than 30 days in the future, jobs for which employees have been hired but not yet reported for work, and jobs to be filled by employees of temporary help agencies, employee leasing companies, outside contractors, or consultants. The job openings rate is computed by dividing the number of job openings by the sum of employment and job openings and multiplying the quotient by 100.
Hires
The hires level is the total number of additions to the payroll occurring at any time during the reference month, including both new and rehired employees; full-time, part-time, permanent, short-term, and seasonal employees; employees recalled to the location after a layoff lasting more than 7 days; on-call or intermittent employees who returned to work after having been formally separated; and transfers from other locations. The hires count does not include transfers or promotions within the reporting site, employees returning after being on strike, employees of temporary help agencies or employee leasing companies, outside contractors, or consultants. The hires rate is computed by dividing the number of hires by employment and multiplying that quotient by 100.
Separations
The separations level is the total number of employment terminations occurring at any time during the reference month and is reported by type of separation: quits, layoffs and discharges, and other separations. (Some respondents are only able to report total separations.)
The quits count includes voluntary separations by employees (except for retirements, which are reported as other separations).
The layoffs and discharges count is made up of involuntary separations initiated by the employer and includes layoffs with no intent to rehire; formal layoffs lasting or expected to last more than 7 days; discharges resulting from mergers, downsizing, or closings; firings or other discharges for cause; terminations of permanent or short-term employees; and terminations of seasonal employees.
The other separations count includes retirements, transfers to other locations, deaths, and separations due to disability.
The separations count does not include transfers within the same location or employees on strike. The separations rate is computed by dividing the number of separations by employment and multiplying the resulting quotient by 100. The quits, layoffs and discharges, and other separations rates are computed similarly.
*From Handbook of Methods, chapter 18, “Job Openings and Labor Turnover Survey” (U.S. Bureau of Labor Statistics, June 2015), https://www.bls.gov/opub/hom/pdf/homch18.pdf.
Job openings
The job openings level is a procyclical measure of demand; job openings tend to increase during economic expansions and decrease during economic contractions.[3] More job openings indicate, generally, that employers need additional workers, a sign of a demand for labor and confidence in the economy. Job openings and employment are closely linked and tend to rise and fall together. In this context, also notable is that the number of employees on nonagricultural payrolls is considered a coincident economic indicator by the National Bureau of Economic Research.[4]
Job openings reached a monthly series high of 6.2 million in September 2017, indicating that the demand side of the labor force continued to improve. During 2017, both job openings and employment levels trended higher than in previous years. Monthly job openings rose from 5.0 million in December 2016 to 5.2 million in December 2017, a 3.5 percent increase.[5] (See table 1.) Monthly employment increased by 1.6 percent in December over the same period. (See figure 1.)
| Industry and region | Level by month and year (in thousands) | Change (Dec 2015–Dec 2016) | Change (Dec 2016–Dec 2017) | ||||
|---|---|---|---|---|---|---|---|
| December 2015 | December 2016 | December 2017 | Level | Percent | Level | Percent | |
| Total nonfarm | 4,972 | 5,044 | 5,222 | 72 | 1.4 | 178 | 3.5 |
| Industry | |||||||
| Total private | 4,492 | 4,563 | 4,709 | 71 | 1.6 | 146 | 3.2 |
| Mining and logging | 15 | 23 | 20 | 8 | 53.3 | –3 | –13.0 |
| Construction | 127 | 139 | 149 | 12 | 9.4 | 10 | 7.2 |
| Manufacturing | 321 | 324 | 374 | 3 | 0.9 | 50 | 15.4 |
| Durable goods | 179 | 182 | 239 | 3 | 1.7 | 57 | 31.3 |
| Nondurable goods | 142 | 142 | 135 | 0 | 0.0 | –7 | –4.9 |
| Trade, transportation, and utilities | 732 | 863 | 994 | 131 | 17.9 | 131 | 15.2 |
| Wholesale trade | 134 | 172 | 188 | 38 | 28.4 | 16 | 9.3 |
| Retail trade | 422 | 504 | 614 | 82 | 19.4 | 110 | 21.8 |
| Transportation, warehousing, and utilities | 176 | 187 | 192 | 11 | 6.3 | 5 | 2.7 |
| Information | 106 | 98 | 103 | –8 | –7.5 | 5 | 5.1 |
| Financial activities | 363 | 373 | 323 | 10 | 2.8 | –50 | –13.4 |
| Finance and insurance | 286 | 290 | 244 | 4 | 1.4 | –46 | –15.9 |
| Real estate and rental and leasing | 77 | 83 | 79 | 6 | 7.8 | –4 | –4.8 |
| Professional and business services | 1,028 | 839 | 767 | –189 | –18.4 | –72 | –8.6 |
| Education and health services | 1,033 | 1,116 | 1,064 | 83 | 8.0 | –52 | –4.7 |
| Educational services | 108 | 92 | 84 | –16 | –14.8 | –8 | –8.7 |
| Healthcare and social assistance | 926 | 1,024 | 980 | 98 | 10.6 | –44 | –4.3 |
| Leisure and hospitality | 573 | 547 | 719 | –26 | –4.5 | 172 | 31.4 |
| Arts, entertainment, and recreation | 48 | 68 | 66 | 20 | 41.7 | –2 | –2.9 |
| Accommodation and food services | 525 | 480 | 653 | –45 | –8.6 | 173 | 36.0 |
| Other services | 194 | 240 | 196 | 46 | 23.7 | –44 | –18.3 |
| Government | 481 | 481 | 513 | 0 | 0.0 | 32 | 6.7 |
| Federal | 84 | 112 | 79 | 28 | 33.3 | –33 | –29.5 |
| State and local | 396 | 369 | 434 | –27 | –6.8 | 65 | 17.6 |
| Education | 147 | 135 | 154 | –12 | –8.2 | 19 | 14.1 |
| Excluding education | 249 | 234 | 280 | –15 | –6.0 | 46 | 19.7 |
| Region | |||||||
| Northeast | 838 | 888 | 902 | 50 | 6.0 | 14 | 1.6 |
| South | 1,917 | 1,850 | 1,836 | –67 | –3.5 | –14 | –0.8 |
| Midwest | 1,068 | 1,140 | 1,255 | 72 | 6.7 | 115 | 10.1 |
| West | 1,149 | 1,166 | 1,228 | 17 | 1.5 | 62 | 5.3 |
| Note: Details may not sum to totals because of rounding. Source: U.S. Bureau of Labor Statistics. | |||||||
| Month and year | Job openings | Hires | Employment |
|---|---|---|---|
| Dec 2000 | 4,736 | 5,482 | 132,727 |
| Jan 2001 | 5,385 | 5,777 | 132,702 |
| Feb 2001 | 4,658 | 5,520 | 132,776 |
| Mar 2001 | 4,563 | 5,650 | 132,748 |
| Apr 2001 | 4,901 | 5,337 | 132,469 |
| May 2001 | 4,550 | 5,395 | 132,428 |
| Jun 2001 | 4,280 | 5,061 | 132,307 |
| Jul 2001 | 4,499 | 5,164 | 132,199 |
| Aug 2001 | 4,134 | 5,041 | 132,053 |
| Sep 2001 | 3,975 | 4,941 | 131,803 |
| Oct 2001 | 3,605 | 5,033 | 131,475 |
| Nov 2001 | 3,387 | 4,902 | 131,178 |
| Dec 2001 | 3,385 | 4,767 | 131,001 |
| Jan 2002 | 3,759 | 4,849 | 130,852 |
| Feb 2002 | 3,372 | 4,900 | 130,724 |
| Mar 2002 | 3,551 | 4,644 | 130,707 |
| Apr 2002 | 3,472 | 4,940 | 130,624 |
| May 2002 | 3,596 | 4,959 | 130,641 |
| Jun 2002 | 3,365 | 4,824 | 130,692 |
| Jul 2002 | 3,411 | 5,005 | 130,615 |
| Aug 2002 | 3,490 | 4,851 | 130,608 |
| Sep 2002 | 3,308 | 4,848 | 130,541 |
| Oct 2002 | 3,535 | 4,806 | 130,654 |
| Nov 2002 | 3,415 | 4,918 | 130,660 |
| Dec 2002 | 2,943 | 4,925 | 130,490 |
| Jan 2003 | 3,824 | 4,971 | 130,597 |
| Feb 2003 | 3,381 | 4,713 | 130,451 |
| Mar 2003 | 3,052 | 4,433 | 130,243 |
| Apr 2003 | 3,340 | 4,688 | 130,194 |
| May 2003 | 3,233 | 4,613 | 130,205 |
| Jun 2003 | 3,334 | 4,755 | 130,198 |
| Jul 2003 | 3,270 | 4,714 | 130,217 |
| Aug 2003 | 3,283 | 4,653 | 130,171 |
| Sep 2003 | 3,074 | 4,873 | 130,281 |
| Oct 2003 | 3,205 | 4,897 | 130,486 |
| Nov 2003 | 3,157 | 4,717 | 130,489 |
| Dec 2003 | 3,214 | 5,000 | 130,610 |
| Jan 2004 | 3,459 | 4,827 | 130,777 |
| Feb 2004 | 3,402 | 4,700 | 130,835 |
| Mar 2004 | 3,380 | 5,219 | 131,163 |
| Apr 2004 | 3,629 | 5,115 | 131,417 |
| May 2004 | 3,660 | 4,939 | 131,714 |
| Jun 2004 | 3,424 | 4,948 | 131,796 |
| Jul 2004 | 3,934 | 4,880 | 131,841 |
| Aug 2004 | 3,619 | 5,091 | 131,957 |
| Sep 2004 | 3,742 | 4,985 | 132,114 |
| Oct 2004 | 3,792 | 5,092 | 132,462 |
| Nov 2004 | 3,238 | 5,180 | 132,525 |
| Dec 2004 | 3,650 | 5,246 | 132,651 |
| Jan 2005 | 3,670 | 5,207 | 132,798 |
| Feb 2005 | 3,845 | 5,273 | 133,042 |
| Mar 2005 | 3,831 | 5,216 | 133,180 |
| Apr 2005 | 4,243 | 5,270 | 133,538 |
| May 2005 | 3,884 | 5,298 | 133,710 |
| Jun 2005 | 4,022 | 5,332 | 133,957 |
| Jul 2005 | 4,319 | 5,275 | 134,328 |
| Aug 2005 | 4,073 | 5,410 | 134,524 |
| Sep 2005 | 4,237 | 5,427 | 134,590 |
| Oct 2005 | 4,277 | 4,988 | 134,676 |
| Nov 2005 | 4,220 | 5,308 | 135,013 |
| Dec 2005 | 4,064 | 5,103 | 135,168 |
| Jan 2006 | 4,298 | 5,196 | 135,450 |
| Feb 2006 | 4,229 | 5,329 | 135,762 |
| Mar 2006 | 4,493 | 5,372 | 136,059 |
| Apr 2006 | 4,680 | 5,113 | 136,227 |
| May 2006 | 4,389 | 5,489 | 136,258 |
| Jun 2006 | 4,349 | 5,278 | 136,337 |
| Jul 2006 | 4,154 | 5,372 | 136,543 |
| Aug 2006 | 4,560 | 5,208 | 136,722 |
| Sep 2006 | 4,516 | 5,214 | 136,870 |
| Oct 2006 | 4,472 | 5,179 | 136,882 |
| Nov 2006 | 4,341 | 5,528 | 137,090 |
| Dec 2006 | 4,278 | 5,223 | 137,263 |
| Jan 2007 | 4,630 | 5,245 | 137,497 |
| Feb 2007 | 4,465 | 5,202 | 137,582 |
| Mar 2007 | 4,666 | 5,380 | 137,796 |
| Apr 2007 | 4,824 | 5,158 | 137,855 |
| May 2007 | 4,550 | 5,268 | 138,008 |
| Jun 2007 | 4,608 | 5,187 | 138,085 |
| Jul 2007 | 4,490 | 5,075 | 138,055 |
| Aug 2007 | 4,555 | 5,106 | 138,027 |
| Sep 2007 | 4,523 | 5,145 | 138,123 |
| Oct 2007 | 4,300 | 5,227 | 138,201 |
| Nov 2007 | 4,156 | 5,162 | 138,307 |
| Dec 2007 | 4,123 | 4,968 | 138,411 |
| Jan 2008 | 4,260 | 4,868 | 138,419 |
| Feb 2008 | 4,042 | 4,943 | 138,338 |
| Mar 2008 | 4,001 | 4,766 | 138,283 |
| Apr 2008 | 4,098 | 4,875 | 138,054 |
| May 2008 | 3,960 | 4,602 | 137,870 |
| Jun 2008 | 3,767 | 4,751 | 137,716 |
| Jul 2008 | 3,821 | 4,471 | 137,503 |
| Aug 2008 | 3,665 | 4,522 | 137,226 |
| Sep 2008 | 3,264 | 4,316 | 136,783 |
| Oct 2008 | 3,292 | 4,454 | 136,308 |
| Nov 2008 | 2,956 | 3,954 | 135,549 |
| Dec 2008 | 2,830 | 4,218 | 134,842 |
| Jan 2009 | 2,767 | 4,158 | 134,055 |
| Feb 2009 | 2,791 | 4,011 | 133,351 |
| Mar 2009 | 2,491 | 3,730 | 132,549 |
| Apr 2009 | 2,357 | 3,853 | 131,845 |
| May 2009 | 2,427 | 3,793 | 131,491 |
| Jun 2009 | 2,428 | 3,675 | 131,022 |
| Jul 2009 | 2,196 | 3,854 | 130,680 |
| Aug 2009 | 2,306 | 3,744 | 130,484 |
| Sep 2009 | 2,478 | 3,859 | 130,255 |
| Oct 2009 | 2,400 | 3,767 | 130,046 |
| Nov 2009 | 2,350 | 3,992 | 130,058 |
| Dec 2009 | 2,407 | 3,806 | 129,781 |
| Jan 2010 | 2,636 | 3,880 | 129,799 |
| Feb 2010 | 2,578 | 3,781 | 129,726 |
| Mar 2010 | 2,666 | 4,182 | 129,919 |
| Apr 2010 | 3,220 | 4,082 | 130,140 |
| May 2010 | 2,891 | 4,376 | 130,662 |
| Jun 2010 | 2,664 | 4,064 | 130,522 |
| Jul 2010 | 2,965 | 4,116 | 130,444 |
| Aug 2010 | 2,920 | 3,910 | 130,428 |
| Sep 2010 | 2,767 | 3,978 | 130,365 |
| Oct 2010 | 3,033 | 4,061 | 130,632 |
| Nov 2010 | 2,914 | 4,101 | 130,761 |
| Dec 2010 | 2,857 | 4,155 | 130,834 |
| Jan 2011 | 2,939 | 3,910 | 130,878 |
| Feb 2011 | 3,056 | 4,061 | 131,060 |
| Mar 2011 | 3,130 | 4,291 | 131,314 |
| Apr 2011 | 3,287 | 4,218 | 131,637 |
| May 2011 | 3,114 | 4,116 | 131,718 |
| Jun 2011 | 3,224 | 4,297 | 131,952 |
| Jul 2011 | 3,475 | 4,139 | 132,024 |
| Aug 2011 | 3,168 | 4,168 | 132,136 |
| Sep 2011 | 3,495 | 4,320 | 132,369 |
| Oct 2011 | 3,421 | 4,239 | 132,578 |
| Nov 2011 | 3,153 | 4,244 | 132,723 |
| Dec 2011 | 3,369 | 4,234 | 132,924 |
| Jan 2012 | 3,725 | 4,292 | 133,272 |
| Feb 2012 | 3,500 | 4,419 | 133,505 |
| Mar 2012 | 3,831 | 4,465 | 133,769 |
| Apr 2012 | 3,643 | 4,299 | 133,841 |
| May 2012 | 3,694 | 4,445 | 133,958 |
| Jun 2012 | 3,799 | 4,432 | 134,026 |
| Jul 2012 | 3,694 | 4,269 | 134,182 |
| Aug 2012 | 3,683 | 4,447 | 134,355 |
| Sep 2012 | 3,521 | 4,238 | 134,549 |
| Oct 2012 | 3,708 | 4,299 | 134,702 |
| Nov 2012 | 3,521 | 4,393 | 134,832 |
| Dec 2012 | 3,570 | 4,360 | 135,075 |
| Jan 2013 | 3,804 | 4,427 | 135,282 |
| Feb 2013 | 3,974 | 4,495 | 135,547 |
| Mar 2013 | 3,916 | 4,311 | 135,703 |
| Apr 2013 | 3,934 | 4,506 | 135,882 |
| May 2013 | 3,889 | 4,575 | 136,122 |
| Jun 2013 | 3,903 | 4,390 | 136,280 |
| Jul 2013 | 3,875 | 4,523 | 136,391 |
| Aug 2013 | 3,915 | 4,714 | 136,651 |
| Sep 2013 | 3,937 | 4,687 | 136,852 |
| Oct 2013 | 4,109 | 4,439 | 137,062 |
| Nov 2013 | 3,841 | 4,592 | 137,283 |
| Dec 2013 | 3,783 | 4,542 | 137,376 |
| Jan 2014 | 3,989 | 4,617 | 137,550 |
| Feb 2014 | 4,147 | 4,656 | 137,732 |
| Mar 2014 | 4,203 | 4,747 | 137,993 |
| Apr 2014 | 4,537 | 4,798 | 138,304 |
| May 2014 | 4,608 | 4,784 | 138,556 |
| Jun 2014 | 4,676 | 4,803 | 138,862 |
| Jul 2014 | 4,622 | 4,988 | 139,058 |
| Aug 2014 | 4,954 | 4,805 | 139,284 |
| Sep 2014 | 4,588 | 5,089 | 139,568 |
| Oct 2014 | 4,944 | 5,127 | 139,823 |
| Nov 2014 | 4,702 | 5,047 | 140,130 |
| Dec 2014 | 4,820 | 5,163 | 140,381 |
| Jan 2015 | 5,113 | 5,036 | 140,592 |
| Feb 2015 | 5,160 | 5,028 | 140,859 |
| Mar 2015 | 5,183 | 5,078 | 140,937 |
| Apr 2015 | 5,625 | 5,120 | 141,219 |
| May 2015 | 5,426 | 5,123 | 141,545 |
| Jun 2015 | 5,165 | 5,132 | 141,736 |
| Jul 2015 | 5,864 | 5,118 | 141,992 |
| Aug 2015 | 5,365 | 5,091 | 142,156 |
| Sep 2015 | 5,367 | 5,150 | 142,244 |
| Oct 2015 | 5,538 | 5,319 | 142,595 |
| Nov 2015 | 5,227 | 5,337 | 142,859 |
| Dec 2015 | 5,395 | 5,497 | 143,093 |
| Jan 2016 | 5,729 | 5,130 | 143,196 |
| Feb 2016 | 5,600 | 5,473 | 143,453 |
| Mar 2016 | 5,944 | 5,297 | 143,688 |
| Apr 2016 | 5,893 | 5,243 | 143,862 |
| May 2016 | 5,696 | 5,215 | 143,896 |
| Jun 2016 | 5,651 | 5,236 | 144,181 |
| Jul 2016 | 5,982 | 5,330 | 144,506 |
| Aug 2016 | 5,516 | 5,303 | 144,681 |
| Sep 2016 | 5,651 | 5,264 | 144,945 |
| Oct 2016 | 5,488 | 5,213 | 145,085 |
| Nov 2016 | 5,632 | 5,282 | 145,257 |
| Dec 2016 | 5,486 | 5,326 | 145,437 |
| Jan 2017 | 5,444 | 5,460 | 145,696 |
| Feb 2017 | 5,618 | 5,264 | 145,896 |
| Mar 2017 | 5,607 | 5,297 | 145,969 |
| Apr 2017 | 6,108 | 5,225 | 146,144 |
| May 2017 | 5,688 | 5,486 | 146,299 |
| Jun 2017 | 6,125 | 5,467 | 146,538 |
| Jul 2017 | 6,200 | 5,506 | 146,728 |
| Aug 2017 | 6,046 | 5,514 | 146,949 |
| Sep 2017 | 6,231 | 5,383 | 146,963 |
| Oct 2017 | 6,061 | 5,609 | 147,234 |
| Nov 2017 | 5,933 | 5,514 | 147,450 |
| Dec 2017 | 5,667 | 5,524 | 147,625 |
| Source: U.S. Bureau of Labor Statistics, Current Employment Statistics, and Job Openings and Labor Turnover Survey. | |||
Job openings by industry
Monthly job openings, not seasonally adjusted, were up over the year from December 2016 to December 2017 in nine industries. The largest over-the-year increases in job openings occurred in accommodation and food services (36.0 percent), durable goods manufacturing (31.3 percent), and retail trade (21.8 percent). Industries with the largest declines over the year included federal government (−29.5 percent), other services (−18.3 percent), and finance and insurance (−15.9 percent). (See table 1.)
During 2017, seasonally adjusted job openings in seven industries reached series highs. These industries include real estate and rental and leasing at 140,000 in January, healthcare and social assistance at 1.1 million in June, educational services at 140,000 in July, nondurable goods manufacturing at 201,000 in July, finance and insurance at 318,000 in September, retail trade at 53,000 in November, and accommodation and food services at 812,000 in December. (See table 2.)
| Industry and region data element | Industry and region | Month | Level |
|---|---|---|---|
| Industry | |||
| Job openings | Real estate and rental and leasing | January | 140,000 |
| Job openings | Healthcare and social assistance | June | 1.1 million |
| Job openings | Educational services | July | 140,000 |
| Job openings | Nondurable goods manufacturing | July | 201,000 |
| Job openings | Finance and Insurance | September | 318,000 |
| Job openings | Retail Trade | November | 53,000 |
| Job openings | Accommodation and food services | December | 812,000 |
| Hires | Mining and logging | May | 39,000 |
| Hires | Other services | October | 249,000 |
| Hires | Healthcare and social assistance | October | 593,000 |
| Hires | Professional and business services | December | 1.2 million |
| Quits | Healthcare and social assistance | October | 403,000 |
| Quits | Professional and business services | December | 747,000 |
| Layoffs and discharges | Arts, entertainment, and recreation | July | 139,000 |
| Region | |||
| Job openings | Northeast | July | 1.1 million |
| Job openings | Midwest | September | 1.6 million |
| Hires | South | October | 2.3 million |
| Hires | Northeast | May | 960,000 |
| Quits | South | October | 1.4 million |
| Quits | West | December | 837,000 |
| Source: U.S. Bureau of Labor Statistics. | |||
Job openings by region
Three of the four census regions experienced upward trends in job openings from December 2016 to December 2017. The largest regional upward trend was in the Midwest, at 10.1 percent. Job openings in the West rose 5.3 percent, followed by those in the Northeast, which rose 1.6 percent. Job openings in the South were down −0.8 percent. (See table 1.)
Two regions reached series highs for seasonally adjusted job openings in 2017. In the Northeast, there were a record number of job openings at 1.1 million in July 2017. In the Midwest, job openings reached a high of 1.6 million job openings in September 2017. (See table 2.)
Job openings and unemployment
One way to analyze job openings and unemployment is to consider the ratio of unemployed persons to job opening. To calculate this ratio, divide the number of unemployed from the Current Population Survey (CPS) by the number of job openings. Job openings and unemployment levels generally move in opposite directions. That is, when the economy is strong, job openings are high and unemployment is low, causing the ratio to decrease. The situation reverses as the economy weakens—unemployment increases and job openings decrease, leading to a higher ratio. Because of this countercyclical behavior, the ratio of the number of unemployed persons to job opening provides a metric that helps describe the state of the economy.[6]
When the most recent recession began in December 2007, the number of unemployed persons to job opening was 1.9.[7] The ratio peaked at 6.6 unemployed persons to job opening in July 2009, the month after the recession ended. In 2017, the ratio of unemployed persons to job opening ranged from a high of 1.4 to a low of 1.1. (See figure 2.)
| Month and year | Ratio |
|---|---|
| Dec 2000 | 1.2 |
| Jan 2001 | 1.1 |
| Feb 2001 | 1.3 |
| Mar 2001 | 1.3 |
| Apr 2001 | 1.3 |
| May 2001 | 1.4 |
| Jun 2001 | 1.5 |
| Jul 2001 | 1.5 |
| Aug 2001 | 1.7 |
| Sep 2001 | 1.8 |
| Oct 2001 | 2.1 |
| Nov 2001 | 2.4 |
| Dec 2001 | 2.4 |
| Jan 2002 | 2.2 |
| Feb 2002 | 2.4 |
| Mar 2002 | 2.3 |
| Apr 2002 | 2.5 |
| May 2002 | 2.3 |
| Jun 2002 | 2.5 |
| Jul 2002 | 2.5 |
| Aug 2002 | 2.4 |
| Sep 2002 | 2.5 |
| Oct 2002 | 2.3 |
| Nov 2002 | 2.5 |
| Dec 2002 | 2.9 |
| Jan 2003 | 2.2 |
| Feb 2003 | 2.5 |
| Mar 2003 | 2.8 |
| Apr 2003 | 2.6 |
| May 2003 | 2.8 |
| Jun 2003 | 2.8 |
| Jul 2003 | 2.8 |
| Aug 2003 | 2.7 |
| Sep 2003 | 2.9 |
| Oct 2003 | 2.7 |
| Nov 2003 | 2.7 |
| Dec 2003 | 2.6 |
| Jan 2004 | 2.4 |
| Feb 2004 | 2.4 |
| Mar 2004 | 2.5 |
| Apr 2004 | 2.3 |
| May 2004 | 2.2 |
| Jun 2004 | 2.4 |
| Jul 2004 | 2.1 |
| Aug 2004 | 2.2 |
| Sep 2004 | 2.1 |
| Oct 2004 | 2.1 |
| Nov 2004 | 2.4 |
| Dec 2004 | 2.2 |
| Jan 2005 | 2.1 |
| Feb 2005 | 2.1 |
| Mar 2005 | 2 |
| Apr 2005 | 1.8 |
| May 2005 | 2 |
| Jun 2005 | 1.9 |
| Jul 2005 | 1.7 |
| Aug 2005 | 1.8 |
| Sep 2005 | 1.8 |
| Oct 2005 | 1.7 |
| Nov 2005 | 1.8 |
| Dec 2005 | 1.8 |
| Jan 2006 | 1.6 |
| Feb 2006 | 1.7 |
| Mar 2006 | 1.6 |
| Apr 2006 | 1.5 |
| May 2006 | 1.6 |
| Jun 2006 | 1.6 |
| Jul 2006 | 1.7 |
| Aug 2006 | 1.6 |
| Sep 2006 | 1.5 |
| Oct 2006 | 1.5 |
| Nov 2006 | 1.6 |
| Dec 2006 | 1.6 |
| Jan 2007 | 1.5 |
| Feb 2007 | 1.6 |
| Mar 2007 | 1.4 |
| Apr 2007 | 1.4 |
| May 2007 | 1.5 |
| Jun 2007 | 1.5 |
| Jul 2007 | 1.6 |
| Aug 2007 | 1.6 |
| Sep 2007 | 1.6 |
| Oct 2007 | 1.7 |
| Nov 2007 | 1.7 |
| Dec 2007 | 1.9 |
| Jan 2008 | 1.8 |
| Feb 2008 | 1.9 |
| Mar 2008 | 2 |
| Apr 2008 | 1.9 |
| May 2008 | 2.1 |
| Jun 2008 | 2.3 |
| Jul 2008 | 2.3 |
| Aug 2008 | 2.6 |
| Sep 2008 | 2.9 |
| Oct 2008 | 3.1 |
| Nov 2008 | 3.6 |
| Dec 2008 | 4 |
| Jan 2009 | 4.4 |
| Feb 2009 | 4.6 |
| Mar 2009 | 5.4 |
| Apr 2009 | 5.9 |
| May 2009 | 6 |
| Jun 2009 | 6.1 |
| Jul 2009 | 6.6 |
| Aug 2009 | 6.4 |
| Sep 2009 | 6.1 |
| Oct 2009 | 6.4 |
| Nov 2009 | 6.5 |
| Dec 2009 | 6.3 |
| Jan 2010 | 5.7 |
| Feb 2010 | 5.9 |
| Mar 2010 | 5.7 |
| Apr 2010 | 4.8 |
| May 2010 | 5.1 |
| Jun 2010 | 5.4 |
| Jul 2010 | 4.9 |
| Aug 2010 | 5 |
| Sep 2010 | 5.3 |
| Oct 2010 | 4.8 |
| Nov 2010 | 5.2 |
| Dec 2010 | 5 |
| Jan 2011 | 4.8 |
| Feb 2011 | 4.5 |
| Mar 2011 | 4.4 |
| Apr 2011 | 4.2 |
| May 2011 | 4.4 |
| Jun 2011 | 4.3 |
| Jul 2011 | 4 |
| Aug 2011 | 4.4 |
| Sep 2011 | 4 |
| Oct 2011 | 4 |
| Nov 2011 | 4.2 |
| Dec 2011 | 3.9 |
| Jan 2012 | 3.4 |
| Feb 2012 | 3.7 |
| Mar 2012 | 3.3 |
| Apr 2012 | 3.5 |
| May 2012 | 3.4 |
| Jun 2012 | 3.3 |
| Jul 2012 | 3.4 |
| Aug 2012 | 3.4 |
| Sep 2012 | 3.4 |
| Oct 2012 | 3.3 |
| Nov 2012 | 3.4 |
| Dec 2012 | 3.4 |
| Jan 2013 | 3.3 |
| Feb 2013 | 3 |
| Mar 2013 | 3 |
| Apr 2013 | 3 |
| May 2013 | 3 |
| Jun 2013 | 3 |
| Jul 2013 | 2.9 |
| Aug 2013 | 2.9 |
| Sep 2013 | 2.9 |
| Oct 2013 | 2.7 |
| Nov 2013 | 2.8 |
| Dec 2013 | 2.8 |
| Jan 2014 | 2.6 |
| Feb 2014 | 2.5 |
| Mar 2014 | 2.5 |
| Apr 2014 | 2.1 |
| May 2014 | 2.1 |
| Jun 2014 | 2 |
| Jul 2014 | 2.1 |
| Aug 2014 | 1.9 |
| Sep 2014 | 2 |
| Oct 2014 | 1.8 |
| Nov 2014 | 1.9 |
| Dec 2014 | 1.8 |
| Jan 2015 | 1.8 |
| Feb 2015 | 1.7 |
| Mar 2015 | 1.7 |
| Apr 2015 | 1.5 |
| May 2015 | 1.6 |
| Jun 2015 | 1.6 |
| Jul 2015 | 1.4 |
| Aug 2015 | 1.5 |
| Sep 2015 | 1.5 |
| Oct 2015 | 1.4 |
| Nov 2015 | 1.5 |
| Dec 2015 | 1.5 |
| Jan 2016 | 1.4 |
| Feb 2016 | 1.4 |
| Mar 2016 | 1.3 |
| Apr 2016 | 1.3 |
| May 2016 | 1.3 |
| Jun 2016 | 1.4 |
| Jul 2016 | 1.3 |
| Aug 2016 | 1.4 |
| Sep 2016 | 1.4 |
| Oct 2016 | 1.4 |
| Nov 2016 | 1.3 |
| Dec 2016 | 1.4 |
| Jan 2017 | 1.4 |
| Feb 2017 | 1.3 |
| Mar 2017 | 1.3 |
| Apr 2017 | 1.1 |
| May 2017 | 1.2 |
| Jun 2017 | 1.1 |
| Jul 2017 | 1.1 |
| Aug 2017 | 1.2 |
| Sep 2017 | 1.1 |
| Oct 2017 | 1.1 |
| Nov 2017 | 1.1 |
| Dec 2017 | 1.2 |
| Sources: U.S. Bureau of Labor Statistics, Current Population Survey, and Job Openings and Labor Turnover Survey. | |
Hires
Like job openings, the data element hires is a procyclical measure. The hires level has increased each year since the end of the recession (2009). The total annual hires rose for 8 consecutive years, increasing 3.2 percent from 62.0 million in 2015 to 65.3 million in 2017. In comparison, annual hires increased a more moderate 2.0 percent in 2016. (See table 3.) The 2017 monthly level for hires climbed to 5.6 million in October 2017, the highest since March 2001.
| Industry and region | Level by year (in thousands) | Change (2015–16) | Change (2016–17) | ||||
|---|---|---|---|---|---|---|---|
| 2015 | 2016 | 2017 | Level | Percent | Level | Percent | |
| Total | 62,027 | 63,240 | 65,259 | 1,213 | 2.0 | 2,019 | 3.2 |
| Industry | |||||||
| Total private | 57,899 | 58,936 | 61,122 | 1,037 | 1.8 | 2,186 | 3.7 |
| Mining and logging | 300 | 290 | 377 | –10 | –3.3 | 87 | 30.0 |
| Construction | 3,931 | 4,041 | 4,438 | 110 | 2.8 | 397 | 9.8 |
| Manufacturing | 3,212 | 3,346 | 3,960 | 134 | 4.2 | 614 | 18.4 |
| Durable goods | 1,876 | 1,925 | 2,217 | 49 | 2.6 | 292 | 15.2 |
| Nondurable goods | 1,336 | 1,420 | 1,740 | 84 | 6.3 | 320 | 22.5 |
| Trade, transportation, and utilities | 13,005 | 12,744 | 12,587 | –261 | –2.0 | –157 | –1.2 |
| Wholesale trade | 1,662 | 1,660 | 1,677 | –2 | –0.1 | 17 | 1.0 |
| Retail trade | 9,015 | 8,677 | 8,424 | –338 | –3.7 | –253 | –2.9 |
| Transportation, warehousing, and utilities | 2,329 | 2,408 | 2,484 | 79 | 3.4 | 76 | 3.2 |
| Information | 954 | 961 | 943 | 7 | 0.7 | –18 | –1.9 |
| Financial activities | 2,366 | 2,350 | 2,481 | –16 | –0.7 | 131 | 5.6 |
| Finance and insurance | 1,588 | 1,549 | 1,622 | –39 | –2.5 | 73 | 4.7 |
| Real estate and rental and leasing | 776 | 798 | 856 | 22 | 2.8 | 58 | 7.3 |
| Professional and business services | 12,593 | 13,136 | 13,542 | 543 | 4.3 | 406 | 3.1 |
| Education and health services | 7,425 | 7,674 | 7,968 | 249 | 3.4 | 294 | 3.8 |
| Educational services | 1,058 | 1,111 | 1,106 | 53 | 5.0 | –5 | –0.5 |
| Healthcare and social assistance | 6,368 | 6,560 | 6,861 | 192 | 3.0 | 301 | 4.6 |
| Leisure and hospitality | 11,623 | 12,154 | 12,188 | 531 | 4.6 | 34 | 0.3 |
| Arts, entertainment, and recreation | 1,813 | 1,910 | 1,959 | 97 | 5.4 | 49 | 2.6 |
| Accommodation and food services | 9,810 | 10,245 | 10,228 | 435 | 4.4 | –17 | –0.2 |
| Other services | 2,489 | 2,243 | 2,643 | –246 | –9.9 | 400 | 17.8 |
| Government | 4,130 | 4,303 | 4,138 | 173 | 4.2 | –165 | –3.8 |
| Federal | 491 | 487 | 456 | –4 | –0.8 | –31 | –6.4 |
| State and local | 3,640 | 3,818 | 3,682 | 178 | 4.9 | –136 | –3.6 |
| Education | 1,809 | 1,867 | 1,798 | 58 | 3.2 | –69 | –3.7 |
| Excluding education | 1,834 | 1,947 | 1,883 | 113 | 6.2 | –64 | –3.3 |
| Region | |||||||
| Northeast | 9,747 | 10,030 | 10,406 | 283 | 2.9 | 376 | 3.7 |
| South | 24,324 | 24,317 | 25,885 | –7 | 0.0 | 1,568 | 6.4 |
| Midwest | 13,846 | 14,187 | 14,308 | 341 | 2.5 | 121 | 0.9 |
| West | 14,110 | 14,701 | 14,663 | 591 | 4.2 | –38 | –0.3 |
| Note: Details may not sum to totals because of rounding. Source: U.S. Bureau of Labor Statistics. | |||||||
Hires by industry
Within all industries, annual hires rose in 12 out of 19 industries in 2017, fell in 5 industries, and remained relatively unchanged in the remaining 2 industries. The largest percent increases in annual hires levels in 2017 were in mining and logging (30.0 percent), nondurable goods manufacturing (22.5 percent), and other services (17.8 percent). The largest percentage declines in hires occurred in federal government (−6.4 percent), state and local government education (−3.7 percent), and state and local government, excluding education (−3.3 percent). (See table 3.)
Five industries had annual series highs for hires in 2017. These industries include transportation warehousing and utilities; professional and business services; healthcare and social assistance; arts, entertainment, and recreation; and other services. (See table 3.)
In four industries during 2017, monthly seasonally adjusted hires reached series highs. These industries are mining and logging at 39,000 in May 2017, both other services at 249,000 and healthcare and social assistance at 593,000 in October 2017, and professional and business services at 1.2 million in December 2017. (See table 2.)
Hires by region
Annual hires in the South region experienced the highest increase in annual hires in 2017, rising 6.4 percent (not seasonally adjusted). Annual hires also increased in the Northeast (3.7 percent) and Midwest (0.9 percent). The West region experienced the only drop in annual hires (−0.3 percent). (See table 3.)
In October 2017, the South experienced a high of 2.3 million hires based on a monthly seasonally adjusted rate. The Northeast experienced a series high for hires in May 2017 at 960,000. No other regions experienced monthly series highs for hires in 2017. (See table 2.)
Hires and job openings
The monthly number of total nonfarm hires has exceeded job openings for most of the JOLTS series history because hires is a full-month (or flow) measure and job openings is a 1-day snapshot (or stock) measure. However, following steady growth after the end of the most recent recession, job openings started to increase rapidly in early 2014. Postrecession, hires also increased but at a slower pace than job openings. Job openings exceeding hires may suggest that employers have unmet demand for workers. Except for January, job openings exceeded hires for every month in 2017. In January, hires exceeded job openings by only 16,000. (See figure 1.)
Total separations
The annual number of total separations, also referred to as turnover, increased 3.5 percent from 2016 to 2017, rising from 60.9 million to 63.0 million. (See table 4.) The level of total separations has risen annually for 7 consecutive years.
| Industry and region | Level by year (in thousands) | Change (2015–16) | Change (2016–17) | ||||
|---|---|---|---|---|---|---|---|
| 2015 | 2016 | 2017 | Level | Percent | Level | Percent | |
| Total | 59,296 | 60,896 | 63,031 | 1,600 | 2.7 | 2,135 | 3.5 |
| Industry | |||||||
| Total private | 55,348 | 56,789 | 58,949 | 1,441 | 2.6 | 2,160 | 3.8 |
| Mining and logging | 452 | 391 | 324 | –61 | –13.5 | –67 | –17.1 |
| Construction | 3,593 | 3,900 | 4,180 | 307 | 8.5 | 280 | 7.2 |
| Manufacturing | 3,148 | 3,360 | 3,782 | 212 | 6.7 | 422 | 12.6 |
| Durable goods | 1,878 | 1,984 | 2,106 | 106 | 5.6 | 122 | 6.1 |
| Nondurable goods | 1,268 | 1,376 | 1,677 | 108 | 8.5 | 301 | 21.9 |
| Trade, transportation, and utilities | 12,599 | 12,322 | 12,372 | –277 | –2.2 | 50 | 0.4 |
| Wholesale trade | 1,646 | 1,631 | 1,612 | –15 | –0.9 | –19 | –1.2 |
| Retail trade | 8,833 | 8,477 | 8,413 | –356 | –4.0 | –64 | –0.8 |
| Transportation, warehousing, and utilities | 2,120 | 2,215 | 2,347 | 95 | 4.5 | 132 | 6.0 |
| Information | 925 | 914 | 979 | –11 | –1.2 | 65 | 7.1 |
| Financial activities | 2,218 | 2,165 | 2,328 | –53 | –2.4 | 163 | 7.5 |
| Finance and insurance | 1,479 | 1,422 | 1,532 | –57 | –3.9 | 110 | 7.7 |
| Real estate and rental and leasing | 739 | 745 | 798 | 6 | 0.8 | 53 | 7.1 |
| Professional and business services | 12,080 | 12,810 | 13,121 | 730 | 6.0 | 311 | 2.4 |
| Education and health services | 6,791 | 7,082 | 7,481 | 291 | 4.3 | 399 | 5.6 |
| Educational services | 981 | 1,018 | 1,007 | 37 | 3.8 | –11 | –1.1 |
| Healthcare and social assistance | 5,811 | 6,062 | 6,474 | 251 | 4.3 | 412 | 6.8 |
| Leisure and hospitality | 11,102 | 11,670 | 11,852 | 568 | 5.1 | 182 | 1.6 |
| Arts, entertainment, and recreation | 1,723 | 1,804 | 1,905 | 81 | 4.7 | 101 | 5.6 |
| Accommodation and food services | 9,381 | 9,863 | 9,946 | 482 | 5.1 | 83 | 0.8 |
| Other services | 2,435 | 2,176 | 2,529 | –259 | –10.6 | 353 | 16.2 |
| Government | 3,947 | 4,109 | 4,082 | 162 | 4.1 | –27 | –0.7 |
| Federal | 454 | 458 | 468 | 4 | 0.9 | 10 | 2.2 |
| State and local | 3,492 | 3,651 | 3,612 | 159 | 4.6 | –39 | –1.1 |
| Education | 1,723 | 1,782 | 1,735 | 59 | 3.4 | –47 | –2.6 |
| Excluding education | 1,769 | 1,868 | 1,879 | 99 | 5.6 | 11 | 0.6 |
| Region | |||||||
| Northeast | 9,324 | 9,661 | 10,056 | 337 | 3.6 | 395 | 4.1 |
| South | 23,416 | 23,540 | 24,995 | 124 | 0.5 | 1,455 | 6.2 |
| Midwest | 12,922 | 13,507 | 13,755 | 585 | 4.5 | 248 | 1.8 |
| West | 13,633 | 14,186 | 14,226 | 553 | 4.1 | 40 | 0.3 |
| "Note: Details may not sum to totals because of rounding. Source: U.S. Bureau of Labor Statistics." | |||||||
Total separations comprise quits, layoffs and discharges, and other separations. Each of these data elements has its own unique trend and cyclical movements. Quits are procyclical, meaning they typically rise when the economy expands and fall when the economy contracts. Layoffs and discharges are countercyclical, which means that they typically rise during economic contractions and fall during economic expansions. The other separations data element remains relatively constant over time. Figure 3 shows this relationship by displaying the percentage of total separations attributed to each type of separation. The percentage of quits to total separations has been increasing since 2009, while the percentage of layoffs and discharges within total separations has been decreasing since 2009.
| Year | Other separations | Layoffs and discharges | Quits |
|---|---|---|---|
| 2001 | 7.0 | 37.6 | 55.4 |
| 2002 | 7.7 | 38.5 | 53.7 |
| 2003 | 7.5 | 41.1 | 51.4 |
| 2004 | 7.2 | 38.8 | 54.0 |
| 2005 | 6.8 | 36.5 | 56.7 |
| 2006 | 7.7 | 34.0 | 58.2 |
| 2007 | 7.0 | 36.1 | 56.9 |
| 2008 | 6.6 | 41.2 | 52.2 |
| 2009 | 7.2 | 51.7 | 41.1 |
| 2010 | 8.2 | 45.5 | 46.3 |
| 2011 | 8.0 | 43.0 | 48.9 |
| 2012 | 8.1 | 41.8 | 50.2 |
| 2013 | 8.3 | 38.3 | 53.4 |
| 2014 | 8.3 | 36.7 | 55.0 |
| 2015 | 7.8 | 35.4 | 56.9 |
| 2016 | 7.2 | 33.1 | 59.7 |
| 2017 | 6.6 | 32.8 | 60.6 |
| Source: U.S. Bureau of Labor Statistics. | |||
Annual quits rose slightly over the year from 36.3 million in 2016 to 38.2 million in 2017. (See table 5.) The annual quits level has risen for 8 consecutive years. In December 2017, the monthly seasonally adjusted quits level was 3.3 million, the highest since January 2001.
| Industry and region | Level (in thousands) | Change (2015–16) | Change (2016–17) | ||||
|---|---|---|---|---|---|---|---|
| 2015 | 2016 | 2017 | Level | Percent | Level | Percent | |
| Total | 33,732 | 36,339 | 38,180 | 2,607 | 7.7 | 1,841 | 5.1 |
| Industry | |||||||
| Total private | 31,847 | 34,293 | 36,145 | 2,446 | 7.7 | 1,852 | 5.4 |
| Mining and logging | 177 | 162 | 176 | –15 | –8.5 | 14 | 8.6 |
| Construction | 1,366 | 1,495 | 1,821 | 129 | 9.4 | 326 | 21.8 |
| Manufacturing | 1,637 | 1,792 | 2,296 | 155 | 9.5 | 504 | 28.1 |
| Durable goods | 936 | 1,004 | 1,260 | 68 | 7.3 | 256 | 25.5 |
| Nondurable goods | 700 | 789 | 1,037 | 89 | 12.7 | 248 | 31.4 |
| Trade, transportation, and utilities | 7,534 | 7,737 | 7,890 | 203 | 2.7 | 153 | 2.0 |
| Wholesale trade | 934 | 1,009 | 1,031 | 75 | 8.0 | 22 | 2.2 |
| Retail trade | 5,485 | 5,575 | 5,617 | 90 | 1.6 | 42 | 0.8 |
| Transportation, warehousing, and utilities | 1,114 | 1,156 | 1,242 | 42 | 3.8 | 86 | 7.4 |
| Information | 503 | 487 | 534 | –16 | –3.2 | 47 | 9.7 |
| Financial activities | 1,211 | 1,209 | 1,370 | –2 | –0.2 | 161 | 13.3 |
| Finance and insurance | 817 | 804 | 916 | –13 | –1.6 | 112 | 13.9 |
| Real estate and rental and leasing | 393 | 406 | 458 | 13 | 3.3 | 52 | 12.8 |
| Professional and business services | 6,280 | 7,330 | 7,710 | 1,050 | 16.7 | 380 | 5.2 |
| Education and health services | 4,510 | 4,704 | 4,983 | 194 | 4.3 | 279 | 5.9 |
| Educational services | 529 | 562 | 557 | 33 | 6.2 | –5 | –0.9 |
| Healthcare and social assistance | 3,981 | 4,142 | 4,426 | 161 | 4.0 | 284 | 6.9 |
| Leisure and hospitality | 7,276 | 8,084 | 7,933 | 808 | 11.1 | –151 | –1.9 |
| Arts, entertainment, and recreation | 658 | 853 | 781 | 195 | 29.6 | –72 | –8.4 |
| Accommodation and foodservices | 6,615 | 7,232 | 7,155 | 617 | 9.3 | –77 | –1.1 |
| Other services | 1,351 | 1,295 | 1,429 | –56 | –4.1 | 134 | 10.3 |
| Government | 1,883 | 2,047 | 2,034 | 164 | 8.7 | –13 | –0.6 |
| Federal | 150 | 162 | 189 | 12 | 8.0 | 27 | 16.7 |
| State and local | 1,730 | 1,884 | 1,845 | 154 | 8.9 | –39 | –2.1 |
| Education | 867 | 915 | 908 | 48 | 5.5 | –7 | –0.8 |
| Excluding education | 863 | 967 | 939 | 104 | 12.1 | –28 | –2.9 |
| Region | |||||||
| Northeast | 4,752 | 5,005 | 5,310 | 253 | 5.3 | 305 | 6.1 |
| South | 13,994 | 14,630 | 15,587 | 636 | 4.5 | 957 | 6.5 |
| Midwest | 7,423 | 8,080 | 8,282 | 657 | 8.9 | 202 | 2.5 |
| West | 7,564 | 8,626 | 8,997 | 1,062 | 14.0 | 371 | 4.3 |
| Note: Details may not sum to totals because of rounding. Source: U.S. Bureau of Labor Statistics. | |||||||
Annual layoffs and discharges increased slightly from 20.2 million in 2016 to 20.7 million in 2017. (See table 6.) Annual other separations declined from 4.4 million in 2016 to 4.2 million in 2017. (See table 7.)
| Industry and region | Level (in thousands) | Change (2015–16) | Change (2016–17) | ||||
|---|---|---|---|---|---|---|---|
| 2015 | 2016 | 2017 | Level | Percent | Level | Percent | |
| Total | 20,963 | 20,152 | 20,676 | –811 | –3.9 | 524 | 2.6 |
| Industry | |||||||
| Total private | 19,665 | 18,822 | 19,351 | –843 | –4.3 | 529 | 2.8 |
| Mining and logging | 241 | 175 | 119 | –66 | –27.4 | –56 | –32.0 |
| Construction | 2,077 | 2,221 | 2,180 | –843 | –4.3 | 529 | 2.8 |
| Manufacturing | 1,234 | 1,281 | 1,223 | –66 | –27.4 | –56 | –32.0 |
| Durable goods | 768 | 799 | 694 | 144 | 6.9 | –41 | –1.8 |
| Nondurable goods | 463 | 483 | 529 | 47 | 3.8 | –58 | –4.5 |
| Trade, transportation, and utilities | 3,836 | 3,468 | 3,565 | 31 | 4.0 | –105 | –13.1 |
| Wholesale trade | 583 | 488 | 462 | 20 | 4.3 | 46 | 9.5 |
| Retail trade | 2,438 | 2,128 | 2,160 | –368 | –9.6 | 97 | 2.8 |
| Transportation, warehousing, and utilities | 813 | 855 | 942 | –95 | –16.3 | –26 | –5.3 |
| Information | 305 | 295 | 339 | –310 | –12.7 | 32 | 1.5 |
| Financial activities | 700 | 663 | 655 | 42 | 5.2 | 87 | 10.2 |
| Finance and insurance | 416 | 378 | 363 | –10 | –3.3 | 44 | 14.9 |
| Real estate and rental and leasing | 284 | 284 | 291 | –37 | –5.3 | –8 | –1.2 |
| Professional and business services | 5,069 | 4,838 | 4,770 | –38 | –9.1 | –15 | –4.0 |
| Education and health services | 1,733 | 1,918 | 1,940 | 0 | 0.0 | 7 | 2.5 |
| Educational services | 380 | 390 | 385 | –231 | –4.6 | –68 | –1.4 |
| Healthcare and social assistance | 1,354 | 1,527 | 1,556 | 185 | 10.7 | 22 | 1.1 |
| Leisure and hospitality | 3,511 | 3,179 | 3,572 | 10 | 2.6 | –5 | –1.3 |
| Arts, entertainment, and recreation | 1,019 | 918 | 1,085 | 173 | 12.8 | 29 | 1.9 |
| Accommodation and foodservices | 2,492 | 2,262 | 2,488 | –332 | –9.5 | 393 | 12.4 |
| Other services | 960 | 790 | 987 | –101 | –9.9 | 167 | 18.2 |
| Government | 1,297 | 1,330 | 1,324 | –230 | –9.2 | 226 | 10.0 |
| Federal | 163 | 157 | 157 | –170 | –17.7 | 197 | 24.9 |
| State and local | 1,134 | 1,173 | 1,169 | 33 | 2.5 | –6 | –0.5 |
| Education | 559 | 581 | 536 | –6 | –3.7 | 0 | 0.0 |
| Excluding education | 577 | 590 | 633 | 39 | 3.4 | –4 | –0.3 |
| Region | |||||||
| Northeast | 3,662 | 3,902 | 3,976 | 22 | 3.9 | –45 | –7.7 |
| South | 7,616 | 7,171 | 7,876 | 13 | 2.3 | 43 | 7.3 |
| Midwest | 4,619 | 4,516 | 4,604 | 240 | 6.6 | 74 | 1.9 |
| West | 5,063 | 4,564 | 4,222 | –445 | –5.8 | 705 | 9.8 |
| Note: Details may not sum to totals because of rounding. Source: U.S. Bureau of Labor Statistics. | |||||||
| Industry and region | Level (in thousands) | Change (2015–16) | Change (2016–17) | ||||
|---|---|---|---|---|---|---|---|
| 2015 | 2016 | 2017 | Level | Percent | Level | Percent | |
| Total | 4,604 | 4,405 | 4,175 | –199 | –4.3 | –230 | –5.2 |
| Industry | |||||||
| Total private | 3,836 | 3,673 | 3,453 | –163 | –4.2 | –220 | –6.0 |
| Mining and logging | 34 | 56 | 30 | 22 | 64.7 | –26 | –46.4 |
| Construction | 150 | 184 | 175 | 34 | 22.7 | –9 | –4.9 |
| Manufacturing | 278 | 287 | 264 | 9 | 3.2 | –23 | –8.0 |
| Durable goods | 174 | 180 | 153 | 6 | 3.4 | –27 | –15.0 |
| Nondurable goods | 104 | 108 | 112 | 4 | 3.8 | 4 | 3.7 |
| Trade, transportation, and utilities | 1,229 | 1,117 | 919 | –112 | –9.1 | –198 | –17.7 |
| Wholesale trade | 129 | 137 | 118 | 8 | 6.2 | –19 | –13.9 |
| Retail trade | 910 | 773 | 633 | –137 | –15.1 | –140 | –18.1 |
| Transportation, warehousing, and utilities | 188 | 206 | 166 | 18 | 9.6 | –40 | –19.4 |
| Information | 119 | 133 | 107 | 14 | 11.8 | –26 | –19.5 |
| Financial activities | 309 | 292 | 302 | –17 | –5.5 | 10 | 3.4 |
| Finance and insurance | 245 | 239 | 251 | –6 | –2.4 | 12 | 5.0 |
| Real estate and rental and leasing | 62 | 53 | 48 | –9 | –14.5 | –5 | –9.4 |
| Professional and business services | 729 | 643 | 639 | –86 | –11.8 | –4 | –0.6 |
| Education and health services | 548 | 459 | 557 | –89 | –16.2 | 98 | 21.4 |
| Educational services | 70 | 64 | 63 | –6 | –8.6 | –1 | –1.6 |
| Healthcare and social assistance | 477 | 396 | 494 | –81 | –17.0 | 98 | 24.7 |
| Leisure and hospitality | 317 | 407 | 349 | 90 | 28.4 | –58 | –14.3 |
| Arts, entertainment, and recreation | 45 | 36 | 43 | –9 | –20.0 | 7 | 19.4 |
| Accommodation and food services | 272 | 373 | 305 | 101 | 37.1 | –68 | –18.2 |
| Other services | 124 | 89 | 114 | –35 | –28.2 | 25 | 28.1 |
| Government | 767 | 734 | 722 | –33 | –4.3 | –12 | –1.6 |
| Federal | 143 | 138 | 123 | –5 | –3.5 | –15 | –10.9 |
| State and local | 626 | 594 | 599 | –32 | –5.1 | 5 | 0.8 |
| Education | 296 | 285 | 292 | –11 | –3.7 | 7 | 2.5 |
| Excluding education | 331 | 308 | 305 | –23 | –6.9 | –3 | –1.0 |
| Region | |||||||
| Northeast | 911 | 755 | 768 | –156 | –17.1 | 13 | 1.7 |
| South | 1,808 | 1,743 | 1,535 | –65 | –3.6 | –208 | –11.9 |
| Midwest | 880 | 909 | 867 | 29 | 3.3 | –42 | –4.6 |
| West | 1,008 | 996 | 1,007 | –12 | –1.2 | 11 | 1.1 |
| Note: Details may not sum to totals because of rounding. Source: U.S. Bureau of Labor Statistics. | |||||||
Components of separations by industry
Quits
In 2017, the number of annual quits grew in 14 out of 19 industries, while 5 industries had fewer quits. The largest increases in annual quits levels in 2017 were in nondurable goods manufacturing (31.4 percent), durable goods manufacturing (25.5 percent), and construction (21.8 percent). The largest declines in annual quits were in arts, entertainment, and recreation (−8.4 percent); state and local government, excluding education (−2.9 percent); and accommodation and food services (−1.1 percent). Three industries reached a series high for the annual level of quits: transportation, warehousing, and utilities at 1.2 million; professional and business services at 7.7 million; and healthcare and social assistance at 4.4 million. (See table 5.)
Two industries reached monthly seasonally adjusted series highs for quits in 2017. These industries include healthcare and social assistance at 403,000 in October 2017 and professional and business services at 747,000 in December 2017. (See table 2.)
Layoffs and discharges
Annual layoffs and discharges dropped from 2016 to 2017 in 8 out of 19 industries, while 10 industries had higher layoffs and discharges and 1 remained unchanged. The largest declines in annual layoffs and discharges levels were in mining and logging (−32.0 percent); transportation, warehousing, and utilities (−5.3 percent); and nondurable goods manufacturing (−4.0 percent). The largest increases in annual layoffs and discharges were in federal government (24.9 percent), other services (18.2 percent), and finance and insurance (14.9 percent).
One industry reached a series low annual layoffs and discharges level—wholesale trade (462,000), and one industry reached a series high annual layoffs and discharges level—arts, entertainment, and recreation (1.1 million). (See table 6.) The only industry to reach a series high for the seasonally adjusted monthly layoffs and discharges level was arts, entertainment, and recreation at 139,000 in July 2017. (See table 2.)
Other separations
From 2016 to 2017, annual other separations increased in 6 out of 19 industries, whereas 13 industries had fewer annual other separations. The largest percent increases in annual other separations were in other services (28.1 percent), healthcare and social assistance (24.7 percent), and arts, entertainment, and recreation (19.4 percent). The largest percentage declines in annual other separations were in mining and logging (−46.4 percent), information (−19.5 percent), and transportation, warehousing, and utilities (−19.4 percent). (See table 7.) Other separations for durable goods manufacturing dropped to an annual series low of 153,000 and real estate and rental and leasing dropped to an annual series low of 48,000. (See table 7.)
Components of separations by region
In 2017, the Northeast region had an annual level of 10.1 million total separations. Within total separations, the Northeast experienced 5.3 million quits, 4.0 million layoffs and discharges, and 768,000 other separations. In the South region, the annual level of total separations for 2017 was 25.0 million. Within total separations in the South region, the quits level was 15.6 million, the layoffs and discharges level was 7.9 million, and other separations level was 1.5 million. In the Midwest region, in 2017, the annual total separations level was 13.8 million. Within total separations in the Midwest, there were 8.3 million quits, 4.6 million layoffs and discharges, and 867,000 other separations. In 2017, the West region annual total separations level was 14.2 million. Within total separations in the West region, the quits level was 9.0 million, the layoffs and discharges level was 4.2 million, and the other separations level was 1.0 million. (See tables 4–7.)
Only two regions experienced monthly series highs, both in quits. The South monthly quits reached a series high of 1.4 million in October 2017. For the West, monthly quits reached a series high of 837,000 in December 2017.
This component analysis illustrates the different characteristics of the JOLTS data at the regional level. The Northeast region experienced the smallest percentage, at 52.8 percent in 2017, of quits within total separations. The West region experienced the highest percentage, at 63.2 percent, of quits to total separations. In 2017, the Northeast region had the largest percentage, at 39.5 percent, of layoffs and discharges within total separations. The West region had the lowest percentage of layoffs and discharges, at 29.7 percent. The Northeast had the highest percentage, at 7.6 percent, of other separations within total separations, whereas the South region had the lowest percentage, at 6.1 percent. (See figure 4.)
| Region | Other separations | Layoffs and discharges | Quits |
|---|---|---|---|
| Northeast | 7.6 | 39.5 | 52.8 |
| South | 6.1 | 31.5 | 62.4 |
| Midwest | 6.3 | 33.5 | 60.2 |
| West | 7.1 | 29.7 | 63.2 |
| Source: U.S. Bureau of Labor Statistics. | |||
Quits compared with layoffs and discharges
From 2009 to 2010, near the end of the most recent recession, layoffs and discharges exceeded quits in most months. However, excluding this timeframe, quits exceeded layoffs and discharges. In 2017, quits continued to exceed layoffs and discharges. As figure 5 illustrates, these two data elements have an inverse relationship.
| Month year | Quits | Layoffs and discharges |
|---|---|---|
| Dec 2000 | 3,012 | 1,891 |
| Jan 2001 | 3,448 | 2,196 |
| Feb 2001 | 3,241 | 1,849 |
| Mar 2001 | 3,154 | 2,144 |
| Apr 2001 | 3,214 | 1,917 |
| May 2001 | 3,085 | 2,012 |
| Jun 2001 | 3,003 | 1,900 |
| Jul 2001 | 2,959 | 1,949 |
| Aug 2001 | 2,869 | 1,863 |
| Sep 2001 | 2,738 | 2,042 |
| Oct 2001 | 2,861 | 2,256 |
| Nov 2001 | 2,604 | 2,118 |
| Dec 2001 | 2,531 | 1,878 |
| Jan 2002 | 2,888 | 1,884 |
| Feb 2002 | 2,626 | 1,982 |
| Mar 2002 | 2,491 | 1,751 |
| Apr 2002 | 2,713 | 1,904 |
| May 2002 | 2,699 | 1,947 |
| Jun 2002 | 2,613 | 1,823 |
| Jul 2002 | 2,710 | 1,985 |
| Aug 2002 | 2,649 | 1,842 |
| Sep 2002 | 2,626 | 1,879 |
| Oct 2002 | 2,578 | 1,865 |
| Nov 2002 | 2,462 | 1,912 |
| Dec 2002 | 2,565 | 1,952 |
| Jan 2003 | 2,514 | 2,002 |
| Feb 2003 | 2,471 | 1,972 |
| Mar 2003 | 2,403 | 1,833 |
| Apr 2003 | 2,406 | 2,007 |
| May 2003 | 2,380 | 1,965 |
| Jun 2003 | 2,382 | 2,066 |
| Jul 2003 | 2,390 | 2,021 |
| Aug 2003 | 2,406 | 1,996 |
| Sep 2003 | 2,479 | 1,904 |
| Oct 2003 | 2,529 | 1,896 |
| Nov 2003 | 2,459 | 1,824 |
| Dec 2003 | 2,472 | 1,930 |
| Jan 2004 | 2,436 | 1,954 |
| Feb 2004 | 2,443 | 1,831 |
| Mar 2004 | 2,608 | 1,933 |
| Apr 2004 | 2,664 | 1,902 |
| May 2004 | 2,467 | 1,832 |
| Jun 2004 | 2,679 | 1,846 |
| Jul 2004 | 2,714 | 1,806 |
| Aug 2004 | 2,691 | 1,926 |
| Sep 2004 | 2,586 | 1,851 |
| Oct 2004 | 2,661 | 1,755 |
| Nov 2004 | 2,811 | 1,949 |
| Dec 2004 | 2,700 | 1,964 |
| Jan 2005 | 2,844 | 1,939 |
| Feb 2005 | 2,660 | 1,979 |
| Mar 2005 | 2,841 | 1,934 |
| Apr 2005 | 2,801 | 1,848 |
| May 2005 | 2,882 | 1,878 |
| Jun 2005 | 2,821 | 1,951 |
| Jul 2005 | 2,794 | 1,827 |
| Aug 2005 | 2,966 | 1,882 |
| Sep 2005 | 3,053 | 1,907 |
| Oct 2005 | 2,967 | 1,666 |
| Nov 2005 | 2,920 | 1,689 |
| Dec 2005 | 2,805 | 1,718 |
| Jan 2006 | 2,954 | 1,670 |
| Feb 2006 | 2,975 | 1,671 |
| Mar 2006 | 3,004 | 1,650 |
| Apr 2006 | 2,789 | 1,795 |
| May 2006 | 3,056 | 1,887 |
| Jun 2006 | 3,050 | 1,672 |
| Jul 2006 | 2,977 | 1,767 |
| Aug 2006 | 3,003 | 1,621 |
| Sep 2006 | 2,940 | 1,706 |
| Oct 2006 | 2,931 | 1,830 |
| Nov 2006 | 3,069 | 1,870 |
| Dec 2006 | 3,046 | 1,725 |
| Jan 2007 | 2,988 | 1,746 |
| Feb 2007 | 2,993 | 1,750 |
| Mar 2007 | 2,989 | 1,788 |
| Apr 2007 | 2,901 | 1,879 |
| May 2007 | 3,008 | 1,755 |
| Jun 2007 | 2,841 | 1,851 |
| Jul 2007 | 2,947 | 1,759 |
| Aug 2007 | 2,950 | 1,811 |
| Sep 2007 | 2,643 | 2,079 |
| Oct 2007 | 2,884 | 1,917 |
| Nov 2007 | 2,777 | 1,919 |
| Dec 2007 | 2,792 | 1,770 |
| Jan 2008 | 2,831 | 1,843 |
| Feb 2008 | 2,789 | 1,908 |
| Mar 2008 | 2,575 | 1,835 |
| Apr 2008 | 2,882 | 1,845 |
| May 2008 | 2,602 | 1,842 |
| Jun 2008 | 2,662 | 1,974 |
| Jul 2008 | 2,550 | 1,894 |
| Aug 2008 | 2,416 | 2,075 |
| Sep 2008 | 2,446 | 1,963 |
| Oct 2008 | 2,412 | 2,138 |
| Nov 2008 | 2,063 | 2,190 |
| Dec 2008 | 2,104 | 2,405 |
| Jan 2009 | 2,043 | 2,573 |
| Feb 2009 | 1,906 | 2,501 |
| Mar 2009 | 1,794 | 2,433 |
| Apr 2009 | 1,734 | 2,559 |
| May 2009 | 1,740 | 2,121 |
| Jun 2009 | 1,782 | 2,115 |
| Jul 2009 | 1,726 | 2,273 |
| Aug 2009 | 1,676 | 2,063 |
| Sep 2009 | 1,639 | 2,127 |
| Oct 2009 | 1,671 | 1,964 |
| Nov 2009 | 1,784 | 1,823 |
| Dec 2009 | 1,697 | 1,994 |
| Jan 2010 | 1,668 | 1,874 |
| Feb 2010 | 1,724 | 1,790 |
| Mar 2010 | 1,793 | 1,830 |
| Apr 2010 | 1,914 | 1,676 |
| May 2010 | 1,790 | 1,733 |
| Jun 2010 | 1,940 | 1,959 |
| Jul 2010 | 1,848 | 2,081 |
| Aug 2010 | 1,904 | 1,748 |
| Sep 2010 | 1,921 | 1,768 |
| Oct 2010 | 1,852 | 1,645 |
| Nov 2010 | 1,778 | 1,753 |
| Dec 2010 | 1,937 | 1,776 |
| Jan 2011 | 1,825 | 1,710 |
| Feb 2011 | 1,872 | 1,652 |
| Mar 2011 | 1,967 | 1,709 |
| Apr 2011 | 1,925 | 1,676 |
| May 2011 | 2,037 | 1,692 |
| Jun 2011 | 1,949 | 1,826 |
| Jul 2011 | 1,981 | 1,749 |
| Aug 2011 | 2,087 | 1,715 |
| Sep 2011 | 2,046 | 1,756 |
| Oct 2011 | 1,953 | 1,707 |
| Nov 2011 | 1,949 | 1,757 |
| Dec 2011 | 1,955 | 1,740 |
| Jan 2012 | 1,977 | 1,707 |
| Feb 2012 | 2,080 | 1,780 |
| Mar 2012 | 2,164 | 1,653 |
| Apr 2012 | 2,104 | 1,850 |
| May 2012 | 2,186 | 1,828 |
| Jun 2012 | 2,186 | 1,812 |
| Jul 2012 | 2,103 | 1,668 |
| Aug 2012 | 2,173 | 1,836 |
| Sep 2012 | 1,977 | 1,745 |
| Oct 2012 | 2,047 | 1,791 |
| Nov 2012 | 2,069 | 1,789 |
| Dec 2012 | 2,088 | 1,594 |
| Jan 2013 | 2,299 | 1,593 |
| Feb 2013 | 2,267 | 1,607 |
| Mar 2013 | 2,098 | 1,701 |
| Apr 2013 | 2,313 | 1,714 |
| May 2013 | 2,252 | 1,730 |
| Jun 2013 | 2,260 | 1,643 |
| Jul 2013 | 2,376 | 1,649 |
| Aug 2013 | 2,403 | 1,723 |
| Sep 2013 | 2,399 | 1,767 |
| Oct 2013 | 2,415 | 1,561 |
| Nov 2013 | 2,366 | 1,553 |
| Dec 2013 | 2,248 | 1,689 |
| Jan 2014 | 2,352 | 1,724 |
| Feb 2014 | 2,390 | 1,667 |
| Mar 2014 | 2,438 | 1,640 |
| Apr 2014 | 2,467 | 1,675 |
| May 2014 | 2,513 | 1,642 |
| Jun 2014 | 2,486 | 1,692 |
| Jul 2014 | 2,591 | 1,821 |
| Aug 2014 | 2,558 | 1,674 |
| Sep 2014 | 2,799 | 1,663 |
| Oct 2014 | 2,772 | 1,783 |
| Nov 2014 | 2,607 | 1,682 |
| Dec 2014 | 2,585 | 1,741 |
| Jan 2015 | 2,766 | 1,723 |
| Feb 2015 | 2,674 | 1,685 |
| Mar 2015 | 2,732 | 1,906 |
| Apr 2015 | 2,716 | 1,793 |
| May 2015 | 2,737 | 1,656 |
| Jun 2015 | 2,803 | 1,784 |
| Jul 2015 | 2,802 | 1,663 |
| Aug 2015 | 2,926 | 1,675 |
| Sep 2015 | 2,802 | 1,878 |
| Oct 2015 | 2,836 | 1,760 |
| Nov 2015 | 2,892 | 1,699 |
| Dec 2015 | 3,032 | 1,762 |
| Jan 2016 | 2,900 | 1,722 |
| Feb 2016 | 2,957 | 1,859 |
| Mar 2016 | 2,913 | 1,745 |
| Apr 2016 | 2,997 | 1,736 |
| May 2016 | 3,030 | 1,753 |
| Jun 2016 | 3,066 | 1,615 |
| Jul 2016 | 3,093 | 1,600 |
| Aug 2016 | 3,161 | 1,676 |
| Sep 2016 | 3,112 | 1,528 |
| Oct 2016 | 3,093 | 1,608 |
| Nov 2016 | 3,022 | 1,694 |
| Dec 2016 | 2,958 | 1,683 |
| Jan 2017 | 3,169 | 1,659 |
| Feb 2017 | 3,018 | 1,657 |
| Mar 2017 | 3,144 | 1,669 |
| Apr 2017 | 3,072 | 1,687 |
| May 2017 | 3,227 | 1,689 |
| Jun 2017 | 3,166 | 1,772 |
| Jul 2017 | 3,240 | 1,817 |
| Aug 2017 | 3,173 | 1,806 |
| Sep 2017 | 3,256 | 1,762 |
| Oct 2017 | 3,224 | 1,712 |
| Nov 2017 | 3,195 | 1,735 |
| Dec 2017 | 3,340 | 1,655 |
| Source: U.S. Bureau of Labor Statistics. | ||
Summary
JOLTS annual data show a continuing upward trend in the labor market throughout 2017. The Job openings level reached its highest point since the series began, indicating an increasing demand for labor. Annual hires and quits levels trended up multiple years in a row and throughout 2017. JOLTS data describe rising levels of hires and quits throughout the economy in 2017.
Suggested citation:
Katherine Bauer, and Paul R. Calhoun Jr., "Job openings reach a new high in 2017, hires and quits also increase," Monthly Labor Review, U.S. Bureau of Labor Statistics, October 2018, https://doi.org/10.21916/mlr.2018.23
Notes
1 The most detailed geographical breakout that the JOLTS sample can provide by region is the Northeast, the South, the Midwest, and the West.
2 When collecting, analyzing, and publishing statistical data related to the U.S. business economy, federal statistical agencies use the North American Industry Classification System (NAICS) as the standard to classify business establishments. For more information, see “North American Industry Classification System: Introduction to NAICS” (U.S. Census Bureau), https://www.census.gov/eos/www/naics/. Out-of-scope NAICS industries are agricultural establishments (NAICS 11), except logging (NAICS 1133), and private households (NAICS 814110). See Handbook of Methods, chapter 18, “Job Openings and Labor Turnover Survey” (U.S. Bureau of Labor Statistics, June 2015), https://www.bls.gov/opub/hom/pdf/homch18.pdf.
3 Procyclical is a condition of positive correlation between the value of a good, a service, or an economic indicator and the overall state of the economy. In other words, the value of the good, service, or indicator tends to move in the same direction as the economy, growing when the economy grows and declining when the economy declines.” For more information, see “Procyclic,” Investopedia, LLC, at http://www.investopedia.com/terms/p/procyclical.asp.
4 For more information concerning principal federal economic indicators, see “U.S. business cycle expansions and contractions” (Cambridge, MA: National Bureau of Economic Research, September 20, 2010), http://www.nber.org/cycles/.
5 The JOLTS program considers job openings a stock measure and does not produce job openings annual totals.
6 Countercyclical is a condition of negative correlation between when the value of the good, service, or indicator “moving in the opposite direction of the overall economic cycle: rising when the economy is weakening, and falling when the economy is strengthening.”
7 “U.S. business cycle expansions and contractions” (Cambridge, MA: National Bureau of Economic Research, September 20, 2010), http://www.nber.org/cycles/.