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Economy in Brief
U.S. Energy Product Prices Drift Sideways
Canadian Factory Sector Looks Solid
Canadian factory orders fell for the second month in a row in July but because of an order surge back in May...
Empire State Manufacturing Index Eases; Prices Improve
The Empire State Manufacturing Index of General Business
Conditions declined to 19.0 during September from 25.6 in August
British Chamber of Commerce Cuts Forecasts
The British Chamber of Commerce (BCC) today announced cutting its outlook for the UK economy...
U.S. Retail Sales Edge Higher
Total retail sales improved 0.1% (6.6% y/y) during August
following a 0.7% July gain...
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% |
