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Economy in Brief
EMU and Japan; EMU Flash PMIs Make Small Recovery
PMIs in June in the EMU area showed some respite from the steady decline in recent months...
French Manufacturing Gives Steady Signal As Services Edge Ahead
The French manufacturing sector gives a steady signal in June but at a level that is off-peak...
U.S. Leading Economic Indicators' Rate of Increase Eases
The Conference Board's Composite Index of Leading Economic Indicators improved 0.2% (6.1% y/y) during May...
Philadelphia Fed Factory Conditions Plunge
The Philadelphia Fed reported that its General Factory Sector Business Conditions Index retreated to 19.9 during June...
U.S. FHFA House Price Index Improves Minimally
The FHFA U.S. house price index nudged 0.1% higher (6.4% y/y) during April...
by Tom Moeller June 8, 2005
The Bureau of Labor Statistics reported that the job openings rate, from the Job Openings & Labor Turnover Survey (JOLTS), firmed to nearly a four year high of 2.7%. 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 total number of job openings also rose 1.8% m/m (17.8% y/y) after an upwardly revised gain in March.
The hires rate backpedaled to 3.4% from a downwardly revised March level. The hires rate is the number of hires during the month divided by employment.
Job separations were stable, indicated by a separation rate of 3.4%. 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.
A description of the Jolts survey and the latest release from the U.S. Department of Labor is available here.
| JOLTS (Job Openings & Labor Turnover Survey) | April | March | April '04 | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Job Openings Rate: Total | 2.7% | 2.6% | 2.3% | 2.4% | 2.1% | 2.2% |
| Hires Rate: Total | 3.4% | 3.6% | 3.4% | 3.4% | 3.2% | 3.2% |
