∙ U.S. Labor Turnover – May 2012

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May Total Turnover: U.S. employers experienced the loss of 4.092 million workers during May; this included 2.143 million quits, 1.608 million layoffs and discharges, and 0.341 million “other” separations. May’s turnover was higher than that of the prior month, 4.034 million, and of the same month a year ago, 3.912 million. This yielded a monthly turnover level of 3.1% [the number of total separations during the entire month as a percent of total employment] which, if maintained at the same level for the next twelve months would result in an annual turnover rate of 37.2%. This is an increase from 36.0% in April of 2012 and also from 36.0% a year ago, May 2011. May Quits: The monthly quit rate in May was 1.6% or 19.2% if projected for a year. This is the same as for the prior month, but up from 1.5% and 18.0% in May 2011. For the Past 12 Months: Total turnover is actually 36.9%, up from 36.8% in April and 36.0% a year ago. The quit rate on annual basis for the last year is 18.3%, up from 18.2% last month and 16.9% a year ago. Chart: Total turnover would actually be dropping were it not for the increase in quits [click on chart to enlarge]. Source: USDOL

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