Total nonfarm job openings, quits, layoffs and discharges relative to May 2020

In April 2024, there were 44 percent more job openings and 56 percent more quits than in May 2020. Beginning in May 2020—the first month of the current expansion—job openings and quits followed similar patterns. The number of openings increased considerably before peaking in March 2022. By that time, job openings had more than doubled and were 118 percent higher than in May 2020. Quits—a type of job separation initiated by employees—also doubled, peaking in April 2022 at 101 percent higher than in May 2020. After peaking, both measures trended downward and continue to post levels over 40 percent higher than those seen in May 2020.

The number of layoffs and discharges—job separations initiated by employers—exhibited a different pattern during the period. Initially declining, separations reached a low point in June 2021, down 40 percent compared with May 2020. Layoffs and discharges remained low through April 2022 when quits were at their highest. As quits and job openings began to decline, the number of layoffs and discharges slowly trended up before flattening. In April 2024, layoffs and discharges were 30 percent lower than in May 2020.

These data are from the Job Openings and Labor Turnover Survey and are seasonally adjusted. Data for the most recent month are preliminary. We also have more charts on job openings and separations.