Colorado Job Openings and Labor Turnover — June 2024

Colorado had 188,000 job openings in June 2024, compared to 178,000 openings in May, the U.S. Bureau of Labor Statistics reported today. (See table 1.) Assistant Commissioner for Regional Operations Michael Hirniak noted that the job openings rate in Colorado was 5.9 percent in June and 5.6 percent in the previous month. (See chart 1 and table 2.) The job openings rate nationally was 4.9 percent in June, unchanged from May. (See table 3.) All data in this release are seasonally adjusted.

The ratio of unemployed persons per job opening in Colorado was 0.7 in June. Nationwide, 36 states and the District of Columbia had ratios in June that were lower than the national measure of 0.8 unemployed persons per job opening; 9 states had ratios that were higher than the national ratio, and 5 states had ratios equal to the national measure. (See map 1.)

In June, Colorado had 140,000 hires and 109,000 separations, compared to 118,000 hires and 136,000 separations in May. (See chart 2.) Over the 12 months ending in June, hires have averaged 114,000 per month and separations have averaged 112,000 per month. These averages include workers who may have been hired and separated more than once during the year.

Among the June separations in Colorado, 73,000 were quits and 26,000 were layoffs and discharges, compared to 74,000 quits and 54,000 layoffs and discharges in May. (See chart 3.) Over the last 12 months, quits averaged 72,000 per month, ranging from 54,000 to 95,000. Layoffs and discharges have averaged 32,000 per month, ranging from 21,000 to 54,000.

The State Job Openings and Labor Turnover Survey estimates for July 2024 are scheduled to be released on Tuesday, September 17, 2024, at 8:00 a.m. (MT).

Technical Note

This news release presents statistics from the Bureau of Labor Statistics' Job Openings and Labor Turnover Survey (JOLTS). The JOLTS program provides information on labor demand and turnover. The state estimates produced by JOLTS are model-based incorporating JOLTS sample, Quarterly Census of Employment and Wages (QCEW), and Current Employment Statistics (CES) estimates. For more information see the JOLTS State Estimates Methodology.

Job Openings. Job openings include all positions that are open on the last business day of the reference month. A job is open only if it meets all three of these conditions:

• A specific position exists and there is work available for that position.
• The job could start within 30 days.
• The employer is actively recruiting workers from outside the establishment to fill the position.

The number of unemployed persons per job opening is a ratio of the level of unemployed persons and the level of job openings. The number of unemployed persons at the national level is an estimate from the Current Population Survey (CPS), while state-level unemployment estimates are modeled by the Local Area Unemployment Statistics (LAUS) program. A ratio of 1.0 means there is a job available for every unemployed person. Lower ratios signal tighter labor markets, where firms have more job openings than there are unemployed persons available to work. Higher ratios indicate there are more unemployed persons competing for each job opening.

Hires. Hires include all additions to the payroll during the entire reference month.

Separations. Separations include all separations from the payroll during the entire reference month and is reported by type of separation: quits, layoffs and discharges, and other separations.

• Quits include employees who left voluntarily, except for retirements or transfers to other locations.
• Layoffs and discharges include involuntary separations initiated by the employer.
• Other separations include retirements, transfers to other locations, separations due to employee disability, and deaths.

Levels and rates of other separations represent a small portion of total separations and are not published with the release of state estimates.

Complete definitions, including exclusions, and additional information about the State JOLTS data presented in this release are available in the State Job Openings and Labor Turnover Technical Note.

Information in this release will be made available to individuals with sensory impairments upon request. Voice phone: 202-691-5200; Telecommunications Relay Service: 7-1-1.

Table 1. Job openings and labor turnover for Colorado, seasonally adjusted (in thousands)

Estimate	June 2023	March 2024	April 2024	May 2024	June 2024(p)	Change from May 2024 to June 2024(p)
Openings	191	204	192	178	188	10
Hires	110	110	111	118	140	22
Total separations	96	102	143	136	109	-27
Quits	68	66	95	74	73	-1
Layoffs & discharges	25	30	41	54	26	-28
(p) Preliminary.

Table 2. Job openings and labor turnover rates for Colorado, seasonally adjusted

Estimate	June 2023	March 2024	April 2024	May 2024	June 2024(p)	Change from May 2024 to June 2024(p)
Openings(1)	6.1	6.4	6.1	5.6	5.9	0.3
Hires(2)	3.7	3.7	3.7	3.9	4.7	0.8
Total separations(3)	3.3	3.4	4.8	4.6	3.6	-1.0
Quits(3)	2.3	2.2	3.2	2.5	2.4	-0.1
Layoffs & discharges(3)	0.8	1.0	1.4	1.8	0.9	-0.9
(p) Preliminary. (1) The job openings rate is computed by dividing the number of job openings by the sum of employment and job openings and multiplying that quotient by 100. (2) The hires rate is computed by dividing the number of hires by employment and multiplying that quotient by 100. (3) The separations rate is computed by dividing the number of separations by employment and multiplying that quotient by 100. The quits and layoffs and discharges rates are computed similarly.

Table 3. Job openings and labor turnover rates for the United States, seasonally adjusted

Estimate	June 2023	March 2024	April 2024	May 2024	June 2024(p)	Change from May 2024 to June 2024(p)
Openings(1)	5.5	5.0	4.8	4.9	4.9	0.0
Hires(2)	3.8	3.6	3.5	3.6	3.4	-0.2
Total separations(3)	3.6	3.4	3.4	3.4	3.2	-0.2
Quits(3)	2.4	2.2	2.2	2.1	2.1	0.0
Layoffs & discharges(3)	1.0	1.0	1.0	1.1	0.9	-0.2
(p) Preliminary. (1) The job openings rate is computed by dividing the number of job openings by the sum of employment and job openings and multiplying that quotient by 100. (2) The hires rate is computed by dividing the number of hires by employment and multiplying that quotient by 100. (3) The separations rate is computed by dividing the number of separations by employment and multiplying that quotient by 100. The quits and layoffs and discharges rates are computed similarly.

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