Wednesday, May 18, 2022

Job openings, hires for Georgia decline in March

 Job openings in Georgia, January 2021 - March 2022

Source: U.S. Bureau of Labor Statistics

Georgia saw the number of job openings decrease by 33,000 between February and March, after seasonal adjustment, according to new information released by the U.S. Bureau of Labor Statistics. The number of openings declined from 435,000 in February to 402,000 in March. Compared to a year ago, the number of job openings remain much higher than the 289,000 openings posted in March 2021.

March marked the largest decline in the number of job openings in the state since March 2021, when the state saw a one-month net loss of 75,000 openings as Covid concerns prompted companies to scale back their hiring plans.

The number of people hired in March 2022 declined by 45,000 from February. The number of hires dropped from 316,000 in February to 271,000 in March. In March 2021, the number of hires stood at 215,000.

Both the decline in the number of job openings and the drop in the number of hires were a dramatic turnaround from the figures in February when the state posted increases of 35,000 openings and 53,000 hires for the month.

Separations, quits, and layoffs and discharges

There was little change in the number of separations, as well as in the number of people quitting their jobs between February and March. While the number of separations increased slightly, and the number of people quitting their jobs declined slightly, neither figure was statistically significant according to BLS.

Similarly, the number of layoffs and discharges rose slightly over the month but not to the level that was deemed statistically significant.

Compared to a year ago, the number of separations and the number of quits remained well above the numbers recorded in March 2021. At that time, the number of separations was posted as 197,000 compared to 253,000 in March 2022, while the number of people quitting their jobs was 131,000 compared to 177,000 in March 2022.

The number of layoffs and discharges were virtually the same in March 2021 and March 2022.

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