Job Openings and Labor Turnover[JOLTS]: Et Hoc Genus Omne.

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Review Notes 

Market Sensitivity: Low.
What Is It: The report captures the churning that takes place in the labor market. It publishes the the total number of new hires and layoffs in the month, as well as how many job openings remained in that period.
Most Current News Release on the Internet: www.bls.gov/news.release/pdf/jolts.pdf
Home Web Address: www.bls.gov
Release Time: 10:00 a.m. (ET); published about five to six weeks after the reference month.
Frequency: Monthly.
Source: Bureau of Labor Statistics, Department of Labor.
Revisions: With each release, the government makes revisions to the previous month, though they tend to be minor. Benchmark revisions are done once a year, usually in March, and can go back two years.”

Via – Bernard Baumohl. “The Secrets of Economic Indicators

Highlights :

The number of job openings was little changed at 6.0 million on the last business day of October, the U.S. Bureau of Labor Statistics reported today.

Over the month, hires increased to 5.6 million and separations were little changed at 5.2 million.

Within separations, the quits rate and the layoffs and discharges rate were little changed at 2.2 percent and 1.1 percent, respectively

Job openings have been at or near record high levels since June.

The job openings rate was 3.9 percent in October.

Job openings increased in accommodation and food services (+94,000), construction
(+48,000), and real estate and rental and leasing (+40,000).

Job openings decreased in wholesale trade (-90,000), finance and insurance (-47,000), information (-32,000), and nondurable goods manufacturing (-26,000).

The number of hires increased to 5.6 million in October (+232,000), and the hires rate was 3.8 percent.

The number of hires increased to 5.2 million for total private (+247,000) and was little changed for government.

At the industry level, the number of hires increased in other services (+55,000) and health care and social assistance (+45,000).

Hires decreased for state and local government, excluding education (-32,000).

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Table A. Job Openings, Hires, and Total Separations by Industry, Seasonally Adjusted

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October 2017 Job Openings Level = 6,000,000 (p)

September 2017 Job Openings Level = 6,093,000(p)

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October 2017 Job Openings Rate =3.9% (p)

September 2017 Job Openings Rate = 4.0%(p)

 

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