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April 2020 JOLTS Report

April 2020 JOLTS Report: 6.9 Million Job Openings

The April 2020 JOLTS Report was released this week, and on the last business day of February, there were 6.9 million job openings, according to the Bureau of Labor Statistics. Throughout the month, hires and separations held steady from January with 5.9 million and 5.6 million, respectively. The quit rate was also consistent at 2.3%. Clearly, these numbers do not reflect the full effect of the coronavirus pandemic, but it’s good to note that the labor market was holding firm before the virus hit the labor force.

Overview of April 2020 JOLTS Report

  • Job Openings: 6.9 million
  • Hires: 5.9 million
  • Separations: 5.6 million
    • Quits: 3.5 million
    • Involuntary: 1.8 million
    • Quit Rate: 2.3%
  • Net Employment Gain: 2.4 million

February picked up where January left off

February 2020 continued the hot streak from the month prior. Before the COVID-19 outbreak was in full swing, Americans continued to show their confidence in the labor market by voluntarily leaving their jobs to pursue other opportunities. This is demonstrated through a consistent quit rate from month-to-month (2.3%) in February. Involuntary quits were also little changed, illustrating that furloughs due to the virus had yet to take effect on American employers in February.

Net employment change

Over the last year (ending in February), hires totaled 70.3 million, and separations equaled 67.9 million. As a result, the net employment gain as of February was 2.4 million. If you pair this with February’s impressive job gains of 275,000, the labor market was humming along nicely in the first two months of 2020.

Obviously, these numbers will look much starker in the following reports from the BLS as more employers furlough their employees during social distancing and shelter in place orders. However, there are still jobs out there, and many employers are in desperate need of essential workers, especially healthcare organizations. If you are searching for a new opportunity at this time, don’t give up hope. Take a deep breath and reach out to our recruiting team. We can help you get back to work during these trying times. We have hundreds of job opportunities across the country with employers that are ready to hire quickly. And if you’re an employer struggling to control your staffing shortage, reach out to us today. We have the reach to help you find the talent you need during these difficult times. At Johnson Service Group, we work hard, we work together, and we work for YOU.

March 2020 JOLTS Report

March 2020 Jolts Report: 7 Million Job Openings

Despite all the ruckus generated by the Coronavirus outbreak, the latest JOLTS Report released this morning. The BLS reported an impressive 7.0 million (+411,000) job openings on the last day of January. Throughout the month, hires and separations were little changed at 5.8 million and 5.6 million, respectively. The quit rate also remained at 2.3%, showing that Americans are still confident in their new job market prospects.

Here’s a more in-depth overview of the latest JOLTS Report

  • Job Openings: 7.0 million
  • Hires: 5.8 million
  • Separations: 5.6 million
    • Quits: 3.5 million
    • Involuntary: 1.7 million
    • Quit Rate: 2.3%
  • Net Employment Gain: 2.1 million

Starting the new decade strong

This is the first JOLTS Report of the new decade, and overall, it’s a good sign of what’s to come in 2020. The number of job openings increased by nearly half a million, and the number of quits held firm. Job openings grew for total private (+370,000) and edged up for government (+40,000). Additionally, throughout January, job openings increased in finance and insurance (+65,000), the federal government (+38,000), and mining and logging (+8,000).

The net employment rate also is looking very optimistic. Over the past 12 months (ending in January), the number of hires amounted to 70 million, and separations equaled 67.9 million. As a result, the net employment gain as of January 2020 was 2.2 million. Now, if you pair this with this month’s Jobs Report with +273,000 jobs, things are looking good for the labor market right now.

A look back to 2019

Last year, there was a total of 69.9 million hires, which is an increase of 1.3 million from 2018. Also, the total number of separations rose by 1.7 million in 2019, to a total of 67.9 million. In other words, there were substantially more hires AND separations last year, showing how strong the job market was throughout the entire year. Additionally, the number of quits rose for the 10th consecutive year, reaching 42.1 million. That’s up by 1.8 million and nearly two-thirds of the total separations last year. On another positive note, layoffs were down by 64,000 in 2019, another example of the strength of the labor market.

Need some help navigating this job market?

As you can see, the proof is in the pudding. The job market is looking fantastic, thanks to the latest JOLTS Report, and 2020 is off to a strong start. Yes, there is a lot of uncertainty in hiring due to the COVID-19 virus, but the majority of employers are still struggling to attract the talent they need. If that sounds like your company, give us a call. Our recruiters are working diligently to help our clients source the talent they need to keep business operations running smoothly. Let’s connect and see how we can work together.

February JOLTS Report

JOLTS Report: Job Openings Fell to 6.4 Million

On the last day of business in December, job openings fell by 364,000 to a total of 6.4 million openings. According to the latest JOLTS Report, the number of hires and separations changed little over the month, with 5.9 million and 5.7 million, respectively. And although the number of job openings continues to decline, the quite rate has held steady at 2.3% for four months now, indicating that Americans are still optimistic about the labor market. Here is an overview of the latest JOLTS Report:

JOLTS Report Summary

  • Job Openings: 6.4 million
  • Hires: 5.9 million
  • Separations: 5.7 million
    • Voluntary: 3.5 million
    • Involuntary: 1.9 million
  • Quite Rate: 2.3%
  • Net Employment Gain: 2.2 million

The labor market is holding steady

Once again, job openings fell in December (to a two-year low), which is discouraging many Americans. Notable industries with fewer job openings are retail and manufacturing, both falling to the lowest level since mid-2017. However, the net employment gain remained positive. Over the last 12 months (ending in December), hires totaled 70 million and separations amassed to 67.8 million, yielding a net employment gain of 2.2 million.

If you pair the net employment gain with the 225,000 jobs added in January, the labor market is still humming along in the new year. Therefore, job seekers’ confidence in the labor market is growing. Last month, the labor force participation rate rose by 0.2% to 63.4%. As a result, 574,000 Americans re-entered the workforce, forcing the unemployment rate to tick up by 0.1% to a total of 3.6%. In other words, despite a brief decline in job openings, confidence remains in today’s overall job market.

Recruit the help of a professional

The job market is still holding firm, and there are no signs of this changing in the near future. If your team needs help navigating today’s labor market, it may be time to recruit the assistance of a professional. At Johnson Service Group, we have an experienced team of recruiters waiting to make an impact on your organization. Reach out to us today, and let’s see how we can improve your hiring efforts in 2020.

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, and November job openings 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!