February 06, 2025
Michigan’s job openings rate declined in November according to the latest release of the Job Openings and Labor Turnover Survey (JOLTS). The hires rate, quits rate, and turnover rate all declined in November as well. Conversely, the separations rate, layoffs/discharges rate, and unemployed persons to job openings ratio grew over the reference period.
The job openings rate, a measure of job openings as a percentage of employment, fell to 4.6 percent in November (-0.2 percentage points). This was due to approximately 9,000 less jobs available in November (218,000) than in October (227,000). The decline in the job openings rate caused Michigan to fall below the national openings rate (4.8 percent). In November, Michigan’s job openings rate ranked 37th lowest among other states.
Source: Job Openings and Labor Turnover Survey, U.S. Bureau of Labor Statistics
The unemployed persons to job openings ratio grew to 1.12 in November. This was the fifth consecutive month that this ratio exceeded 1.0, indicating that the number of people available to work continued to outpace job openings over this period. Notably, this was Michigan’s highest recorded ratio since March 2021 (1.13). Michigan had the sixth-highest ratio compared to other states and was substantially higher than the national ratio during this period (0.88).
Source: Job Openings and Labor Turnover Survey, U.S. Bureau of Labor Statistics
Michigan’s labor turnover rate, a combination of the separations and hires rates, declined marginally in November to 7.1 percent (-0.1 percentage points). As a result, Michigan’s turnover rate fell to 23rd among other states. However, despite this decline, Michigan’s turnover rate remained notably above the national rate (6.5 percent).
There were approximately 13,000 less individuals hired in November (151,000) than in October (164,000). Subsequently, the hires rate, a measure of hires as a percentage of employment, fell to 3.4 percent (-0.2 percentage points). Michigan’s hires rate remained above the national rate during this period (3.3 percent) but fell to 36th among other states as a result of this decline.
Approximately 12,000 more individuals separated from their jobs in November (170,000) than the month prior (158,000). As a result, the separations rate, a measure of separations as a percentage of employment, rose to 3.8 percent in November (+0.3 percentage points). Michigan’s separations rate remained above the national rate (3.3 percent) and jumped to 14th among other states compared to 28th in October.
An increase in the layoffs/discharges rate, a measure of involuntary separations, was the main driver of the increase in separations. Between October and November, this rate grew to 1.7 percent (+0.5 percentage points). Numerically, this was reflected in 23,000 more individuals involuntarily separating from their jobs in November (78,000) than in October (55,000). The quits rate, a measure of voluntary separations, fell to 1.9 percent (-0.2 percentage points). This was a result of approximately 9,000 less individuals choosing to separate from their jobs in November (86,000) than in the month prior (95,000).
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