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Economy in Brief

JOLTS July Update: US Hiring Improved But Slower
by Tom Moeller September 7, 2004

The Job Openings & Labor Turnover Survey (JOLTS) from the Bureau of Labor Statistics for July continued to indicate improved hiring, but at a slower rate than in June. The hires rate fell to 3.2% from an upwardly revised 3.4% in June. These figures are versus the monthly low of 3.0% last Spring and 3.1% during all of last year.

The hires rate in manufacturing slipped to 2.4% from 2.6% in June but remained above the 2.2% averaged last year.

The survey dates only to December 2000 but has since followed closely the movement in nonfarm payrolls.

The job openings rate rose to 2.4%, the highest level since October 2002.

Chairman Greenspan's testimony on the economic outlook is available here.

JOLTS (Job Openings & Labor Turnover Survey) July June July '03 2003 2002 2001
Job Openings Rate: Total 2.4% 2.3% 2.1% 2.1% 2.2% 2.8%
Hires Rate: Total 3.2% 3.4% 3.1% 3.1% 3.2% 3.5%
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