Job openings reach record highs in 2022 as the labor market recovery continues

This article discusses national trends for job openings, hires, and separations throughout 2022. Separations are further broken down into quits, layoffs and discharges, and other separations. Levels of labor market activity as measured by churn (hires rates plus separations rates) and job openings rates are examined by industry. Establishment size class data are then presented at the total private level, and the article concludes with a brief look at state data, specifically state job openings compared with unemployment. Job openings reached a series high in March 2022. Although the number of job openings began to decline after the peak, they remained at historically high levels throughout the year. Hires increased compared with 2021, but growth slowed as the year progressed. Total separations rose as well, driven largely by quits. Although layoffs and discharges also increased in 2022, their annual levels remained far below those recorded prior to the COVID-19-induced recession.