WASHINGTON – The nation had 4.1 million job openings on the last day of February, for a job-openings rate of 2.9 percent, compared with January’s 3.0 percent and the year-ago rate of 2.8 percent, the U.S. Department of Labor’s Bureau of Labor Statistics today reported.
The job-openings rate (total job openings reported in the survey, divided by the sum of job openings and reported payroll) rose in the construction industry, to 2.4 percent from January’s 1.8 percent, and fell in the Northeast, the BLS said. No other sectors or regions showed significant changes from January in the job-openings rate, which has hovered at about the current level since September.
Year-over-year increases were seen in nondurable goods manufacturing, transportation, warehousing and utilities, information, and other services. Decreases were seen in durable-goods manufacturing, finance and insurance, professional and business services, accommodations and food services, and federal government. No region showed significant year-over-year change.
The job-openings rates were highest in accommodations and food services (4.0 percent), education and health services (3.6 percent) and professional and business services (3.5 percent).
The hires rate in February (total additions to the payroll, not counting promotions and transfers, divided by the total payroll) was essentially unchanged at 3.5 percent, the BLS said.
The rate fell in the retail industry, to 2.4 percent from January’s 2.6 percent, and in the Northeast, the BLS said. The rates for other sectors and regions did not change significantly from the month before.
Year-over-year increases were seen in educational services and federal government, while declines were seen in construction, retail, information, accommodations and food services, and other services.
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The turnover rate (total terminations of employment at any time in the past month, divided by total payroll) was little-changed in February, edging down to 3.3 percent from January’s 3.4 percent, the BLS said. The rate declined slightly in state and local government, to 1.2 percent from January’s 1.3 percent, but did not change significantly in any region or any other sector.
A year-over-year increase was seen in federal government, the only sector or region to show significant change in turnover from February 2006.
Additional information, including the 15-page Job Openings and Labor Turnover (JOLTS) report, is available at www.bls.gov/jlt .
