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Fire & Finance Blog

Job Turnover Was Flat in February

Job Turnover Was Flat in February

The latest data from the government’s Bureau of Labor Statistics suggests that job turnover was flat in February. March’s job creation numbers were flat as well.

According to BLS, The number of job openings was little changed at 5.7 million on the last business day of February.

Over the month, hires and separations were also little changed at 5.3 million and 5.1 million, respectively. Within separations, the quits rate was little changed at 2.1 percent, and the layoffs and discharges rate was unchanged at 1.1 percent.

This release includes estimates of the number and rate of job openings, hires, and separations for the nonfarm sector by industry and by four geographic regions.

On the last business day of February, there were 5.7 million job openings, little changed from January.

In March, the economy added a paltry 98,000 new jobs – around half of what was expected.

The “glass half full” take on this data would be that we’ll see some very healthy job creation in April. This is because a “flat” rate of job openings from January through February doesn’t really explain March’s lousy numbers.

After all, the economy produced a healthy 235,000 in February.

Let’s hope the missing jobs of March show up this month.

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