Recent Updates
- Korea: International Trade (Nov)
- Singapore: International Trade, Non-oil Domestic Exports (Nov)
- Australia: Petroleum Statistics, Overseas Arrivals and Departures (Oct)
- Japan: TANKAN Short-term Economic Suvey, TANKAN Inflation Outlook of Enterprises (Q4)
- China: Insurance Industry (Nov)
- New Zealand: Performance of Service Index, Composite PMI (Nov), Electricity Generation and Consumption (Q3)
- more updates...
Economy in Brief
U.S. Industrial Production Rebounds
Industrial production jumped a greater-than-expected 0.6% (3.9% year-on-year) during November...
U.S. Business Inventory Accumulation Picks Up
Total business inventories increased 0.6% (5.1% y/y) during October...
U.S. Import Prices Weaken As Petroleum Prices Fall; Export Prices Also Decline
Import prices fell 1.6% (+0.7% y/y) during November following an unrevised 0.5% October rise...
U.S. Government Budget Deficit Surges Unexpectedly
The U.S. Treasury Department reported that the federal government ran a $204.9 billion budget deficit during November...
U.S. Initial Unemployment Insurance Claims Decline
Initial claims for unemployment insurance fell to 206,000 (-7.6% y/y) during the week ended December 8...
by Tom Moeller July 12, 2005
The Bureau of Labor Statistics reported that the job openings rate, from the Job Openings & Labor Turnover Survey (JOLTS), eased in May to 2.5% while the previously reported April increase was revised away. 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 fell 3.1% m/m (+8.9% y/y) after a downwardly revised 0.6% decline during April
The hires rate recovered to 3.5% following the sharp decline in April. The hires rate is the number of hires during the month divided by employment.
The job separations rate fell to 3.3% after having been elevated during the prior two month. 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) | May | April | May '04 | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Job Openings Rate: Total | 2.5% | 2.6% | 2.4% | 2.4% | 2.1% | 2.2% |
| Hires Rate: Total | 3.5% | 3.4% | 3.3% | 3.4% | 3.2% | 3.2% |
