• U.S. Labor Turnover – June 2012

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June Total Turnover: U.S. employers experienced the loss of 4.430 million workers during June; this included 2.295 million quits, 1.721 million layoffs and discharges, and 0.414 million “other” separations. June’s turnover was higher than that of the prior month, 4.202 million, and of the same month a year ago, 4.217 million. This yielded a monthly turnover level of 3.3% [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 39.6%. June Quits: The monthly quit rate in June was 1.7% or 20.4% if projected for a year. This is the same as for the prior month, but up from 1.6% and 19.2% in June 2011. For the Past 12 Months: Total turnover is actually 37.0%, up from 36.9% in May and 35.9% a year ago. The quit rate on annual basis for the last year is 18.5%, up from 18.4% last month and 17.0% a year ago. Quits: …which composed only 43.3% of total turnover two years ago…now account for 51.8% of total separations. SOURCE: USDOL-BLS