Hires rate continues to decline
July 08, 2009
The hires rate, at 3.0 percent in May, 2009, was at the lowest point since the series began in December 2000.
In May, the hires rate declined significantly in retail trade but did not change significantly in the remaining industries.
The hires level decreased significantly over the year for total nonfarm, falling by 829,000 or 16 percent since May 2008. Total private and many industries showed significant declines in the hires rate including mining and logging; durable goods manufacturing; real estate and rental and leasing; health care and social assistance; arts, entertainment, and recreation; accommodation and food services; and state and local government.
Regionally, the hires rate dropped significantly over the past 12 months in the Midwest, South, and West, but not the Northeast.
The hires rate is the number of hires as a percent of total employment. Hires are any additions to the payroll during the month.
These data come from the Job Openings and Labor Turnover Survey. The above data are seasonally adjusted. Data for May 2009 are preliminary and subject to revision. Find additional information in "Job Openings and Labor Turnover: May 2009" (PDF) (HTML), news release USDL 09-0778.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Hires rate continues to decline on the Internet at http://www.bls.gov/opub/ted/2009/jul/wk1/art03.htm (visited March 04, 2015).
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