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Analysis of South Carolina Job Openings and Labor Turnover Survey Data

Analysis of South Carolina Job Openings and Labor Turnover Survey Data 

By Taylor Hendrix, Workforce Insights Analyst

hiring

National Results

The U.S. Bureau of Labor Statistics recently released their Job Openings and Labor Turnover Survey (JOLTS) results at the statewide level for October 2023. Overall, little to no changes in job openings, hires, and total separations occurred in most states for the month, continuing a trend from the prior month. Job Openings rates decreased in six states and were flat in DC and the remaining 44 states; Hires rates decreased in three states and increased in one state; and total Separations rates increased in three states and decreased in two states. Rates are a calculation of each parameter as a percent of the state’s total employment, thereby allowing a “big picture” context for the raw changes.

For full details of other states, readers can visit https://www.bls.gov/news.release/jltst.nr0.htm. Let’s look at the South Carolina JOLTS data results.

South Carolina Data Breakdown

Month-over-Month Comparison: September to October 2023

The state has seen very little change among the rates for Job Openings, Hires, and Separations from September to October 2023. For overall tallies month-over-month, Job Openings fell by 7,000, Hires rose by 2,000, and Separations fell by 11,000. Within Separations, Quits were down 9,000 and Layoffs/Discharges were down 5,000.

 

Levels (in thousands)

Rates

 

September 2023

October 2023

Numeric Change

September 2023

October 2023

Percent Change

 

Job Openings

172

165

-7

6.9

6.7

-0.2

 

Hires

105

107

2

4.5

4.6

0.1

 

Separations

113

102

-11

4.9

4.4

-0.5

 

Quits

75

66

-9

3.2

2.9

-0.3

 

Layoffs/ Discharges

35

30

-5

1.5

1.3

-0.2

 

Year-over-Year Comparison: October 2022 to October 2023

Similar to the month-over-month comparison, changes in rates of Job Openings, Hires, and Separations from October 2022 to October 2023 were minimal, with no change exceeding half a percentage point. Job Openings saw a 0.5 percentage point decrease over that time frame, Hires saw a 0.1 percentage point decrease, and Separations saw a 0.2 percentage point increase. Within Separations, Quits were down 0.1 percentage points and Layoffs/Discharges were up 0.3 percentage points.

 

Levels (in thousands)

Rates

 

October 2022

October 2023

Numeric Change

October 2022

October 2023

Percent Change

 

Job Openings

177

165

-12

7.2

6.7

-0.5

 

Hires

106

107

1

4.7

4.6

-0.1

 

Separations

95

102

7

4.2

4.4

0.2

 

Quits

69

66

-3

3.0

2.9

-0.1

 

Layoffs/ Discharges

23

30

7

1.0

1.3

0.3

 

LMI maintains its assessment from the prior month that the state’s steady JOLTS data, along with South Carolina’s low unemployment rate and record number of people working, are evidence of a strong economy. Businesses are continuing to hire and retain workers and individuals have employment choices and security.