Recent Updates
- US: Employment Situation (Feb), Intl Trade (Jan)
- US: Establishment Survey Detail (Feb)
- US: Household Survey Detail (Feb)
- Canada: International Trade (Jan), Ivey PMI (Feb)
- Serbia: PPI (Feb)
- more updates...
Economy in Brief
U.S. Consumer Credit Outstanding Declines in January
Consumers reduced credit balances further in January...
U.S. Trade Deficit Widens to $68.2 Billion in January
The U.S. trade deficit in goods and services widened to $68.2 billion in January...
German Order Growth Gets Back in Gear Despite the Headwinds
German order growth is back in gear with total orders rising by 1.4% m/m in January...
U.S. Factory Orders & Shipments Rise Again in January
Manufacturing activity is strengthening. Factory orders rose 2.6% (2.8% y/y) in January...
U.S. Initial Unemployment Insurance Claims Rise Just 9,000
Initial claims for unemployment insurance rose modestly by 9,000 to 745,000 in the week ended February 27...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
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% |
