September 09, 2004 (The Editor’s Desk is updated each business day.)

Hires rate down in July 2004

The hires rate fell in July but remained above the separations rate. The hires rate was 3.2 percent in July, and the separations rate was 3.1 percent.

[Chart data—TXT]

The July hires rate of 3.2 percent was down from the June rate of 3.4 percent. The hires rate decreased in construction and edged down in government (including federal, state, and local) in July, while other major industries showed little or no change in their hires rates. The hires rates in the Midwest and West decreased from a month ago.

The hires rate is the number of hires during the month divided by employment. Hires are any additions to the payroll during the month. The separations, or turnover, rate is the number of separations during the month divided by employment.

These data come from the Job Openings and Labor Turnover Survey. The above data are seasonally adjusted. Data for July 2004 are preliminary and subject to revision. Find additional information in "Job Openings and Labor Turnover: July 2004" (PDF) (TXT), USDL 04-1762.