Showing posts with label JOLTS. Show all posts
Showing posts with label JOLTS. Show all posts

Monday, July 20, 2020

Job openings and separations in Georgia, 1st Quarter 2020


Compared to the nation, at the end of March, Georgia recorded a higher level of job openings, hires, and quits while posting a lower rate of total separations.

Experimental state-level data provided by the U.S. Bureau of Labor Statistics suggests that the Coronavirus (COVID-19) pandemic impact started later in the state than in the nation as a whole.

Job Openings

In the 1st quarter of 2020, Georgia recorded 656,000 employment openings compared to 680,000 in the 1st quarter of 2019.  Job openings for the first two months of 2020 were comparable to those in the first two months of 2019 but then dropped by 27,000 in March of 2020 compared to March 2019.

The state’s openings rate stood at 4.3% at the end of the 1st quarter compared to a 4.9% rate in the 1st quarter of 2019.

At the end of March, the national job openings rate stood at 3.7%.

Hires

The number of hires increased by 15,000 in the 1st quarter compared to the 1st quarter of the previous year. Hiring remained steady throughout all three months of 2020.

The hiring rate at the end of March stood at 3.7%, the same as at the end of March 2019.

Nationally, the hire rate ended the quarter at 3.1%.

Separations

Total separations include 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.

Separations totaled 638,000 in the 1st quarter with separations rising each month in 2020 compared to the same three months in 2019. Separations in the 1st quarter of 2019 equaled 516,000.

At the end of March, the total separations rate was 5.4% compared to 3.7% in March 2019. For the nation, the total separations rate at the end of the 1st quarter was 9.3% compared to a 3.3% rate in March 2019.

Both the number of quits as well as layoffs and discharges in Georgia rose each of the first three months of 2020 compared to the first three months of 2019.

For the 1st quarter of 2020, the number of quits equaled 349,000, while the number of layoffs and discharges came to 258,000.

For the 1st quarter of the previous year, the number of quits totaled 315,000 while the number of layoffs and discharges reached 157,000.

At the end March 2020, the quits rate was 2.4%, the same as in March 2019, while the layoffs and discharges rate rose to 2.8% compared to 1.1% in March 2019.

For the nation, the quits rate stood at 1.6% and the layoffs and discharge rate was 7.4% at the end of March.

About state-level JOLTS data

Job Openings and Labor Turnover Survey (JOLTS) estimates are based on a national sample of approximately 16,000 establishments. These data are used by policymakers, academics, industry experts, economists, and others to better understand the current state of the U.S. economy and to understand the dynamic activity of businesses in the economy that lead to aggregate employment changes.

While the current national sample size is designed to support estimates for major industries at the national level and total nonfarm estimates at the regional level, the Bureau of Labor Statistics (BLS) is currently researching the possibility of leveraging the sample to produce model-assisted estimates at the state total nonfarm level. These estimates are currently identified as experimental as updates to the models are incorporated into this new data series.

BLS is encouraging data users to review these estimates and provide input on both the technical aspects of the models and on the usability of the resulting data.

More information can be found at https://www.bls.gov/jlt/jlt_statedata.htm.

Table A. Job openings, hires, quits, layoffs and discharges, and total separations rates for United States and Georgia, as of March 2020


Rates in Percent
Area
Job Openings Rate
Hires Rate
Quits Rate
Layoffs & Discharges Rate
Total Separations Rate
United States
3.7
3.1
1.6
7.4
9.3
Georgia
4.3
3.7
2.4
2.8
5.4