• U.S. Labor Turnover – July 2012

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July Total Turnover: U.S. employers experienced the loss of 4.510 million workers during July; this included 2.504 million quits, 1.587 million layoffs and discharges, and 0.419 million “other” separations. July’s turnover was higher than that of the prior month’s 4.456 million, but about equal to the same month a year ago, 4.511 million. This yielded a monthly turnover level of 3.4% [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 40.8%. Click on chart to enlarge July Quits: The monthly quit rate in July was 1.9% or 22.8% if projected for a year. This is up from 1.7% in the prior month, and up from 1.8% in July 2011. For the Past 12 Months: Total turnover is actually 37.0%, the same as in the prior month but up from 35.9% a year ago. The quit rate on annual basis for the last year is 18.7%, up from 18.6% last month and 17.2% a year ago. Quits: …which composed only 43.5% of total turnover two years ago…now account for 50.5% of total separations. SOURCE: USDOL-BLS

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