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January 2020 JOLTS Report

January 2020 JOLTS Report: 6.8 Million Job Openings

The BLS just released the numbers for the January 2020 JOLTS Report, job openings in November clocked in at 6.8 million, down 561,000 from the previous month. Throughout the month, hires and separations changed little with 5.8 million and 5.6 million, respectively. And although job openings are declining, the quit rate has remained at 2.3% for over three months. This a strong sign that Americans’ confidence in the labor market is holding steady. Let’s take a closer look at the latest JOLTS Report.

JOLTS Report breakdown:

  • Job openings: 6.8 million
  • Hires: 5.8 million
  • Separations: 5.6 million
    • Voluntary: 3.5 million
    • Involuntary: 1.7 million
  • Quits Rate: 2.3%
  • Net Employment Gain: 2.3 million

The labor market is still hot

Although the number of job openings declined by nearly half a million, the net employment gain continues to be impressive over the last 12 months.  Over the past year (ending in November 2019), hires totaled 69.8 million and separations totaled 67.5 million, resulting in a net employment gain of 2.3 million.

Moreover, in the month of November, there were more total job openings (6.8 million) than the number of hires (5.8 million). In other words, today’s market is still candidate-driven as there are over 1 million more job openings than hires. And when pairing that with today’s half-century low unemployment rate (3.5%), the market remains hot as we make our way into 2020.

Get a helping hand in today’s tight market

The labor market is hot and doesn’t look like it will be slowing down anytime soon. It can be challenging for hiring managers to secure the top talent they need to keep business running as usual. If you are in this same boat, reach out to one of our recruiters at Johnson Service Group. We have a dedicated team of professional recruiters that are ready to make an impact on your hiring efforts; we are ready to help you find the talent your team needs in 2020 and beyond!

December 2019 JOLTS Report

December 2019 JOLTS Report

The Labor Department released the latest JOLTS Report this morning, and the labor market received a boost in October. Throughout the month, both job openings and the number of quits by Americans increased, which are two solid signs of a strong job market. On the last day of business in October, job openings total 7.3 million, up from 7.0 million in September. The quit rate also remained at 2.3 percent, showing the confidence of Americans to quit their jobs to pursue more lucrative career opportunities.

Here’s a breakdown of the latest JOLTS Report.

December JOLTS Report

  • Job Openings: 7.3 million (+235,000 from the last report)
  • Number of Hires: 5.8 million (3.8 percent hire rate)
  • Number of Separations: 5.6 million
    • Voluntary: 3.5 million
    • Involuntary: 1.8 million
  • Job Opening Rate: 4.6 percent

The 4th Quarter labor market is holding firm

In October, both the number of quits and job openings throughout the country ticked up. In other words, Americans are gaining confidence in our current labor market. This is an excellent sign that the labor market will hold firm as we enter the new year in just a few short weeks.

Furthermore, job openings (7.3 million) is still well above the number of American separations (5.6 million). Therefore, there are plenty of opportunities for those currently seeking new employment. The net employment change continues to look attractive. Over the last 12 months (ending in October), hires totaled 69.8 million and separations totaled 67.4 million, for a net employment gain of 2.4 million. And when comparing this with December’s impressive Jobs Report with a staggering 266,000 job gains, the outlook of our job market is looking more and more appealing.

It’s still a candidate-driven market

The unemployment rate is currently holding at a 50-year low of 3.5 percent. Additionally, there are more job openings than hires as of October 2019. Thus, employers are still struggling to fill their critical roles. If your team needs help navigating this tight market, let’s partner together. We can help you fill your critical positions, and position your team to start the new decade on a strong note. Partner with a recruiter from Johnson Service Group today, and let’s work together to source the talent you need.

November 2019 JOLTS Report

November 2019 JOLTS Report

The Job Openings and Labor Turnover Survey (JOLTS) is out, and the labor market is still as attractive as ever for job seekers. On the last business day of September 2019, there was little change from the month prior, with a total of 7.0 million job openings. Also, the number of total hires had a slight bump up to 5.9 million throughout the month. The quit rate held steady at 2.3 percent, which illustrates the confidence of job seekers to leave their jobs to find more fruitful opportunities.

Here is a breakdown of the latest November 2019 JOLTS Report.

November JOLTS Report

  • Job Openings: 7.0 million
  • Hires: 5.9 million
  • Separations: 5.8 million
    • Voluntary: 3.5 million
    • Involuntary: 2.0

The job market remains resilient

If you compare last month’s JOLTS Report to today’s, there are two important things to note:

  • The number of hires edged up
  • The number of separations bumped up

When looking at these two figures together, it’s clear that job seekers are becoming more and more confident in today’s labor market. More people are getting hired, yet more people are voluntarily leaving their jobs to seek out new opportunities. When pairing this with the current unemployment rate of 3.6 percent, the outlook for the labor market is strong as we head closer to 2020.

Furthermore, the number of job openings (7.0 million) is still well above the number of those seeking employment (5.8 million). The net change in employment continued to look attractive. Over the last 12 months (ending in September 2019), there was a total of 69.9 million hires and 67.4 million separations. That is an enticing net employment gain of 2.5 million. And with the BLS reporting last Friday a surprisingly strong revision in job additions from the prior two months (+95,000 jobs) than previously reported, the labor market is looking great for job seekers (and spooky for employers)!

How will you obtain the talent you need?

In this tight market, having an efficient hiring process is critical. If your process is too slow or has too many hoops to jump through, it may be time to make some changes to improve the process for your candidates. If your team is struggling to do so, have you thought about enlisting some help from a recruiter? At JSG, we have a dedicated team of recruiters with decades of industry experience. Let’s work together to source the talent your team needs to end the year on a strong note. Contact us today!

October 2019 JOLTS Report

October 2019 JOLTS Report

The numbers are in, and the latest JOLTS Report shows that the labor market is still holding strong. On the last business day of August 2019, there was little change from the previous month, with a total of 7.1 million job openings. Additionally, the number of hires throughout the month was consistent (5.8 million). However, the most impressive statistic was a quit rate of 2.3 percent, just short of last month’s record-breaking number. In other words, confidence in today’s job market is still strong. Here is a summary of the October 2019 JOLTS Report from the BLS.

October 2019 JOLTS Report:

  • Job Openings: 7.1 million
  • Hires: 5.8 million
  • Total number of people who left their jobs: 5.6 million
    • Voluntarily: 3.5 million
    • Involuntarily: 1.8 million

The job market is holding steady into the Fourth Quarter

As we head into the Fourth Quarter of 2019, there is no doubt that the labor market is stable. The unemployment rate just tied a 50-year low (3.5 percent), and throughout the year, monthly job gains have averaged 161,000 jobs. Additionally, the month of October is the most competitive month for hiring. In fact, 89 percent of hiring managers are filling their roles in less than four weeks.

However, hiring managers will continue to face challenges throughout their hiring process with a record low unemployment rate and a steady number of job openings. And with a consistent quit rate month-over-month, it shows that workers are not afraid to leave their careers to search for new opportunities. As a result, competition for top talent will continue to strengthen.

August was also another month where we saw a positive net change in employment. Over the last 12 months ending in August, there were 69.5 million hires and a total of 67.1 million separations. That equates to a total net employment gain of 2.4 million. If that’s not enough to convince you, the latest Jobs Report presented revised job gains over the previous two months (July and August). In July, job gains were revised from 159,000 to 166,000 jobs (+7,000 jobs) and from 130,000 gains in August to 168,000. That results in a positive revision of 45,000 job gains!

Find the talent you need in Q4

With hiring not slowing down as we make our way into the Fourth Quarter, it will continue to be challenging to find the talent you need in today’s candidate-driven market. Today’s market is so tight that you may need a helping hand to attract the talent your team needs to confidently head into 2020. Partner with a recruiter that specializes in your industry. At JSG, we are proud to help our clients achieve their hiring goals across North America. Reach out to us today, and let’s work together to fill your critical roles before the new year.

September 2019 JOLTS Report

September 2019 JOLTS Report

September 2019 JOLTS Report

The results are in, and the latest JOLTS Report from the Bureau of Labor Statistics shows that the labor market is still standing strong. The number of job openings showed little change on the last business day of July 2019, with 7.22 million job openings. However, one thing to notice was the significant jump in the number of hires throughout the month (6 million). With a consistent amount of job openings coupled with another recording-breaking quit rate (2.4 percent), workers are gaining more and more confidence to enter today’s active labor market. Check out our summary of the latest BLS’ latest JOLTS Report.

September 2019 JOLTS Report:

  • Job Openings: 7.22 million
  • Hires: 6.0 million
  • Total number of people who left their jobs: 5.8 million
    • Voluntarily: 3.6 million
    • Involuntarily:  1.8 million

The Job Market Keeps Going Strong

Over the second half of the year, the labor market is still holding firm. The number of job openings declined from 7.3 million to 7.22 million; however, the number of hires jumped to over 6.0 million during the month of July. And over the last twelve months, the net employment gain equals a total of 2.6 million hires. And if you pair that with the latest Jobs Report that pumped out an increase of 130,000 jobs, this positive trend appears to be continuing into the Fourth Quarter.

Additionally, the unemployment rate has remained consistent through the second half of 2019. The unemployment rate has been 3.7 percent for the last three months, and in the previous 18 months, it’s held under 4 percent. If you combine that with an all-time high quit rate of 3.4 percent (3.6 million voluntary quits), the outlook for the labor market looks optimistic. An increase in quits illustrates that workers are confident in the labor market and are choosing to quit their current roles in the search for better opportunities. 

If that isn’t enough proof for you, the average hourly wages of U.S. workers keeps climbing month after month. In August, hourly wages rose by $0.11 to $28.11. Over the past 12 months, wages have increased by over 3.2 percent. This is making the job market more attractive for passive candidates, and thus, will likely increase the quite rate as we head into Q4.

How to find the talent your team needs?

As you’ve probably experienced first-hand, the labor market is strong and doesn’t appear to be slowing down as we inch closer to 2020. If you are like the majority of employers in today’s market, it can be difficult at times to attract new talent to your organization. If you need help navigating this candidate-driven market, don’t go at it alone. After all, the cost of vacancy keeps climbing the longer you have critical positions open. So, partner with one of our recruiters today to ensure your roles get filled quickly and you don’t experience any production hiccups.

August 2019 Jolts Report

August 2019 JOLTS Report: Another 7.3 Million Job Openings

August 2019 Jolts Report

The Bureau of Labor Statistics’ (BLS) latest JOLTS Report showed the labor market stayed extremely consistent from May to June. The number of job openings and hires illustrated little change with job openings remaining at 7.3 million and hires at 5.7 million. With this many job openings and a record-breaking 2.3 percent quit rate, candidates are more confident and comfortable than ever to enter the job market, seeking a new opportunity for a better position. Check out our summary of the latest BLS’ latest JOLTS Report.

August 2019 JOLTS Report:

  • Job Openings: 7.3 million
  • Hires: 5.7 million
  • Total number of people who left their jobs: 5.5 million
    • Voluntarily:  3.4 million
    • Involuntarily:  1.7 million

The Labor Market Remains Healthy and Competitive

The labor market has experienced minimal change in the second half of 2019. This is illustrated by the BLS’ recent Jobs Report that reported 164,000 job gains in the month of July, exceeding economists’ projections of 150,000.

Additionally, the unemployment rate has been fairly consistent. The unemployment rate experienced subtle growth in the previous months rising from 3.6 to 3.7 percent in July. This slight change, in combination with the 3.4 million people that voluntarily left their jobs in July, implies that people are choosing to enter the labor market because of the opportunity for career advancement today’s labor market currently provides.

Furthermore, the job market held consistent with 5.7 million total separations. In July 2019, overall employment began rising, thus providing an opportunity for career growth. Moreover, as the job market continues to grow, wage trends follow directly behind as employers must keep up with the market’s talent. Over the past year, hourly wages have increased by 3.2 percent; hourly wages rose by $0.08 in the last month alone. Thus, making the labor market more attractive to passive and active job seekers.

How Can You Successfully Navigate Today’s Market?

The second half of 2019 has been very consistent, setting the tone for the market to remain healthy in the coming months. With a slight increase in unemployment and consistency in vacancies, now is the perfect time to reach out for help. Partner with a JSG Recruiter to find top talent that your company needs in today’s competitive job market.

JOLTS Report

July 2019 JOLTS Report: 7.3 Million Job Openings

JOLTS Report

The Bureau of Labor Statistics’ (BLS) latest JOLTS Report showed very little change in the labor market from April to May. The job openings rate edged down to 4.6 percent with a total of 7.3 million job openings. However, there were more than 1.6 million more job openings than people seeking work (5.7 million). Check out our summary of the BLS’ latest JOLTS Report.

July 2019 JOLTS Report:

  • Job Openings: 7.3 million
  • Hires: 5.7 million
  • Total number of people who left their jobs: 5.5 million
    • Voluntarily: 3.4 million
    • Involuntarily: 1.8 million

The labor market remained competitive through the first half of 2019

After hitting an all-time high in late 2018, job openings have been consistent throughout the first half of 2019. This is illustrated by the BLS’ recent Jobs Report that reported a gain of 224,000 jobs in the month of June, far surpassing economists’ projections. 59,000 more jobs, to be precise. Additionally, the unemployment rate has been consistent throughout the 2nd Quarter of the year. Last month, the unemployment rate ticked up from 3.6 to 3.7 percent. This slight shift from May to June paired with last month’s strong job gains illustrates that more candidates are re-entering the labor market.

The job market has been consistently growing over the last year. Throughout the past 12 months, total hires have amounted to 69.5 million and separations equal 66.9 million. Therefore, yielding a net employment gain of 2.6 million jobs. Moreover, wages continue to climb as the labor market gets more and more competitive. In June 2019, hourly wages increased six cents for a grand total of $27.90. Once again, this emphasizes that the labor market is holding strong as employers are having to increase wages to attract (and retain) talent.

Get the Right Help for Your Team

Throughout the first two quarters of 2019, the labor market was consistently competitive. With a slight decline in job openings this month, it may be time to reach out for help. Partner with a recruiter from Johnson Service Group and receive the help your team needs to navigate today’s tight labor market!

June 2019 JOLTS Report

June 2019 JOLTS Report: 7.4 Million Job Openings

June 2019 JOLTS Report

The Bureau of Labor Statistics’ (BLS) latest JOLTS Report showed very little movement in the labor market from March 2019 to April 2019. The month of April resulted in an increase of job openings by 4.7 percent, totaling 7.4 million openings. However, with only 5.9 million people seeking work, there are 1.63 million more job openings than available workers to fill them, the largest gap ever recorded. Below is a brief summary of the BLS’ latest JOLTS Report.

June 2019 JOLTS Report:

  • Job Openings: 7.4 million
  • Hires: 5.9 million
  • Total number of people who left their jobs: 5.3 million
    • Voluntarily: 3.5 million
    • Involuntarily: 1.8 million

The Labor Market is Still Roaring

The recently released May 2019 Jobs Report revealed the addition of 75,000 jobs over the month of May. On the downside, this number missed projections by about 100,000 jobs, but the upside is shown through unemployment statistics. The unemployment rate has remained low at a rate of 3.6 percent. As a result, May was the 15th straight month of the unemployment rate at or below 4 percent. As of May, there are only 5.9 million unemployed Americans. The number of quits, layoffs, and discharges was stagnant throughout this quarter.

The labor market is steady with little change from month-to-month. And over the previous 12 months prior to April, hires totaled 69.6 million and separations totaled 66.8 million. This illustrates a steady and consistent market with more hires than people leaving their jobs. Furthermore, hires increased by 217,000 for private employment with the overall hiring rate sitting at 3.9 percent. Additionally, the good news for new hires is that wages are also positively trending, with an increase in average hourly wages of $0.06 for a total of $27.83 an hour in May.

Get the Right Help for Your Team

To summarize, the labor market reigns consistently competitive. With a slight decline in job growth this month, it may be time to expand your reach in today’s candidate-driven market. Thus, pairing up with a JSG recruiter to find talented and qualified individuals could be the solution to filling and retaining your organization’s critical roles. Reach out to a JSG recruiter today to optimize the trends of the labor market!

May 2019 JOLTS Report

May 2019 JOLTS Reports

May 2019 JOLTS Report

The Bureau of Labor Statistics’ (BLS) latest JOLTS Report trampled expectations with the addition of 7.5 million job openings on the last day of business in March. Throughout the month of March, job openings increased by 346,000, marking a job openings rate of 4.7 percent. Here is a brief summary of the BLS’ latest JOLTS Report:

  • Job openings: 7.5 million
  • People hired: 5.7 million
  • Total number of people who left their jobs: 5.4 million
    • People who voluntarily quit their jobs: 3.4 million
    • People who involuntarily left their jobs: 1.7 million

The labor market is still roaring

Today’s market is still very much candidate-driven. The April 2019 Jobs Report was released last week and we saw job gains of 263,000 over the month. And over the last three months, job gains averaged an impressive 169,000, even after a more “disappointing” February. As of March, the number of job openings increased by 346,000 from the prior month and there are only 5.8 million unemployed Americans.

In other words, there are more vacant positions than available workers to fill them. Pair that with a wildly unexpected GDP of 3.2 percent for the first quarter of 2019 and the labor market is looking strong. As a result, many employers are still struggling to fill their vacant positions. Candidates have options (and lots of them). In fact, March was the 13th consecutive month of available jobs outnumbering the number of people out of work and actively searching for new opportunities.

Don’t be afraid to get some help

The labor market remains competitive. It can be challenging to find qualified candidates to fill your roles. However, if you team up with a recruiter, like one from JSG, we can help alleviate this problem for your organization. If you’re struggling to find the talent your team needs, reach out to us. Let’s work together to ensure you’re finding the candidates your organization has been searching for.

April 2019 JOLTS Report

April 2019 JOLTS Report: 7.1 Million Job Openings

April 2019 JOLTS Report

In February of 2019, we saw 7.1 million job openings, with little change in both hires and separations throughout the month. Here is a brief summary of the latest JOLTS Report from the Bureau of Labor Statistics:

  • Job openings: 7.1 million
  • People hired: 5.7 million
  • Total number of people who left their jobs: 5.6 million
    • People who voluntarily quit their jobs: 3.5 million
    • People who involuntarily left their jobs: 1.7 million
    • People who left their jobs for retirement or other reasons: 334,000

The labor market is still roaring

The March 2019 Jobs Report was just released and over the last three months, job gains have averaged 180,000. As of March, there are only 6.2 million Americans presently unemployed and 7.1 job openings. The labor market is still looking strong as we enter the Second Quarter.

Regardless of all the “disappointing” or “negative” reports that are out there, there are still more jobs than available workers to fill them. In fact, there is still less than one available candidate per open job in the country. Millions of Americans are still voluntarily leaving their jobs for new opportunities. 3.5 million Americans voluntarily left their jobs, which illustrates how strong the market is. And many were concerned with February’s Job Report, which showed only 20,000 job gains. However, with revisions, an additional 11,000 jobs were created in the month of February.

Get the help your team needs

The labor market is competitive and the First Quarter of 2019 was impressive. If you’re struggling to find and retain great talent in this market, you are not alone. But that doesn’t mean that you have to try and tackle this issue all by yourself! If you’re sick of striking out during the hiring process, it may be time to team up with a professional in your industry. Partner with a recruiter to help fill your most critical roles. Reach out to a JSG recruiter today!