Recent Updates
- India: GDP Press (Q3)
- Brazil: Manufacturing Confidence Indexes (Nov), Household Employment (Sep)
- Ireland: ESRI Consumer Sentiment (Nov)
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- more updates...
Economy in Brief
U.S. New Home Sales Almost Unchanged Since August
New single-family home sales around the country changed very little in October and also in September...
U.S. Q3 Growth GDP Unrevised at 33.1%; Corporate Profits Rebound
The second estimate of Q3 U.S. real GDP indicated that economic activity rose an unrevised 33.1% q/q...
U.S. Durable Goods Orders Rise Further in October
Manufacturers’ orders for durable goods increased 1.3% m/m (-0.3% y/y) in October...
U.S. Goods Trade Deficit Deepens During October
The advance estimate of the U.S. trade deficit in goods deepened to $80.29 billion during October...
U.S. Initial Jobless Claims Rise for a Second Week
Initial claims for regular state unemployment insurance rose again this past week ending November 21 to 778,000...
Viewpoints
Commentaries are the opinions of the author and do not reflect the views of Haver Analytics.
by Tom Moeller August 11, 2005
The Bureau of Labor Statistics reported that the job openings rate, from the Job Openings & Labor Turnover Survey (JOLTS), improved in June versus May to 2.6%, but 2.6% has been the average so far this year. 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, however, reversed most of the prior month's decline and rose 3.7% (12.8% y/y).
The hires rate dipped slightly to 3.5% from an upwardly revised 3.6% in May. 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 three months. 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) | June | May | June '04 | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Job Openings Rate: Total | 2.6% | 2.5% | 2.3% | 2.4% | 2.1% | 2.2% |
| Hires Rate: Total | 3.5% | 3.6% | 3.4% | 3.4% | 3.2% | 3.2% |
