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Job Openings and Labor Turnover Virtually Unchanged

U.S. Bureau of Labor Statistics (12/10/13)

The U.S. Bureau of Labor Statistics reports a hires rate of 3.3%, a separations rate of 3.1%, and 3.9 million job openings at the end of October, virtually unchanged from the previous month. There were 4.5 million hires and 4.2 million separations in October. The quits rate was 1.7% for total nonfarm, 2.0% for total private, and 0.6% for government, on par with September’s results.

Meanwhile, the layoffs and discharges rate slipped to 1.1% but changed little on a month-to-month basis for total private and government at 1.2% and 0.5%, respectively. Year-to-year, there were 53 million hires and 51 million separations, resulting in a net employment gain of 2 million.