The number of job openings fell to 6.8 million (-561,000) on the last business day…
The number of job openings fell to 6.8 million (-561,000) on the last business day of November, the U.S. Bureau of Labor Statistics reports.
Over the month, hires and separations were little changed at 5.8 million and 5.6 million, respectively.
Within separations, the quits rate was unchanged at 2.3 percent and the layoffs and discharges rate was little changed at 1.1 percent.
Total separations includes quits, layoffs and discharges, and other separations. Total separations is referred to as turnover. Quits are generally voluntary separations initiated by the employee.
Therefore, the quits rate can serve as a measure of workers’ willingness or ability to leave jobs. Layoffs and discharges are involuntary separations initiated by the employer.
Other separations includes separations due to retirement, death, disability, and transfers to other locations of the same firm.