An average of 54,549 people were laid off or fired EACH DAY(including weekends and holidays) in 2016. (19,965,000 people in total were laid off or fired in the 366 days of 2016.)
Monthly layoffs & discharges in thousands from the BLS JOLTS survey.
An average of 54,966 people have been laid off or fired each day (including weekends and holidays) in the first two months of 2017. A total of 3,243,000 people have been laid off or fired in the first 59 days of 2017 (through February).
These sound like big numbers, but the 2016 number is the LOWESTnumber of annual layoffs in the 16 years since 2001.
These are huge numbers.... So.... how can the jobs numbers keep going up? Is someone lying? Here's the key: We need to compare FIRINGS and other separations with HIRINGS in a given year.
Where do these numbers come from?
The JOLTSreport (Job Openings, Layoffs, and Turnover Survey), published monthly by the Bureau of Labor Statistics (BLS) tells us how many layoffs and "discharges" (generally firings for cause) in total were conducted in a given month, though it doesn't differentiate between people laid off due to a business closing, merger, or reduction in force vs. people who were fired for cause. It also doesn't distinguish between people laid off from seasonal jobs (such as construction or Christmas retail jobs) vs. people laid off because the whole company is reducing its work force or closing.
These numbers are available going back to the year 2001. As you can see on the chart below, the numbers of layoffs and discharges increased rapidly during the recession of 2007-2008, but decreased rapidly as well. The number of people being laid off has now been decreasing on a monthly basis since mid 2009. However, even the seasonally adjusted number of layoffs and discharges is volatile, meaning that it goes up and down quite a bit from one month to the next.
Also, when there are more jobs, there are, as a whole, more layoffs, but that didn't hold true in 2016. There were about 2.3 million more jobs in the United States in 2016 vs. 2015, and there were still more layoffs in 2015.
Annual Numbers of Layoffs:
Layoffs and discharges annually through 2016 with numbers of month-by-month layoffs for 2017-- compared with numbers of hires:
2001: 24,499,000 62,588,000
2002: 22,922,000 58,469,000
2003: 23,294,000 57,027,000
2004: 22,668,000 60,222,000
2005: 22,243,000 63,107,000
2006: 20,896,000 63,501,000
2007: 21,958,000 62,123,000
2008: 24,028,000 54,740,000
2009: 26,444,000 46,242,000
2010: 21,633,000 48,686,000
2011: 20,689,000 50,237,000
2012: 21,053,000 52,358,000
2013: 19,944,000 54,212,000
2014: 20,405,000 58,653,000
2016: 19,965,000 62,789,000
Jan 2017: 1,659,000 5,424,000
Feb 2017: 1,584,000 5,314,000
2017 to date: 3,243,000 10,738,000
2016:An average of 172,025 people were HIRED EACH DAY in 2016. An average of 165,647 people left their jobs for any reason EACH DAY in 2016. Therefore, on average, 6,378 MORE people were hired each day in 2016 than left their jobs for any reason in 2016 and the number of jobs went up all year. Do the (simple) math, and we added about 2.3 million jobs in 2016.
As long as we have more people being hired than people leaving their jobs for any reason, the total number of jobs will continue to climb.
What about 2017?
In 2017 to date, 7,119MOREpeople have been hired each day in 2017 than left their jobs for any reason each day in 2017. If this pace continues, we will add at about 2.6 million jobs this year.
So far in the early months of 2017:
An average of 182,000 people were HIRED EACH DAY.
An average of 174,881people left their jobs for any reason each day so far in 2017.
Of those 174,881 who left their jobs each day, an average of 54,966 left their jobs because they were fired or laid off.
On average, 7,119MOREpeople have been hired each day in 2017 than have left their jobs for any reason in 2017.
7,119 MORE hires over separations multiplied by 365 days in 2017, and, if this pace continues, we will add about 2.6 million more jobs this year.
The greatest number of daily net hires over separations for any reason occurred in 2014, when 8,342 more people were hired each day than were separated each day for any reason. (By comparison, in 2009, there were about 14,000MOREseparations every day vs. hires.)