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Economy in Brief
U.S. Financial Accounts Show Moderate Borrowing, Average Ratio to GDP
rowing in U.S. financial markets slowed in Q2 2018, according to the Federal Reserve's Financial Accounts data...
U.S. Small Business Optimism Diminishes
The NFIB Small Business Optimism Index declined to 104.8 during November...
U.S. Gasoline Prices Fall; Crude Oil Costs Rise
Gasoline prices declined to an average $2.42 per gallon (-2.6% y/y)...
ZEW Assessments Shift and Weaken in December
The economic situation has worsened everywhere...
U.S. JOLTS: Job Openings and Hires Rates Improve
The Bureau of Labor Statistics reported that the total job openings rate improved to 4.5% during October...
by Tom Moeller March 15, 2005
The Job Openings & Labor Turnover Survey (JOLTS) from the Bureau of Labor Statistics indicated the job openings rate eased in January to 2.4% versus 2.6% in December. The job openings rate is the number of job openings on the last business day of the month as a percent of total employment plus job openings.
The hires rate held in January at December's upwardly revised 3.5%. The hires rate is the number of hires during the month divided by employment.
The total number of job openings fell 5.8% (+15.4% y/y) after a 7.0% gain in December.
Job separations fell 1.7% m/m (+9.2% y/y). The separation rate held steady at 3.3%. Total separations include quits, layoffs, discharges, and other separations as well as retirements. The total separations, or turnover, rate is the total number of separations during the month divided by employment.
The survey dates only to December 2000 but has since followed the movement in nonfarm payrolls.
From the U.S. Department of Labor, a description of the Jolts survey and the latest release is available here.
| JOLTS (Job Openings & Labor Turnover Survey) | Jan | Dec | Jan '04 | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Job Openings Rate: Total | 2.4% | 2.6% | 2.1% | 2.4% | 2.1% | 2.2% |
| Hires Rate: Total | 3.5% | 3.5% | 3.3% | 3.4% | 3.2% | 3.2% |
