Recent Updates
- India: GDP Press (Q3)
- Brazil: Manufacturing Confidence Indexes (Nov), Household Employment (Sep)
- Ireland: ESRI Consumer Sentiment (Nov)
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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 November 8, 2005
The Bureau of Labor Statistics reported that the job openings rate, from the Job Openings & Labor Turnover Survey (JOLTS), rose in September to 2.7% from 2.5% in August. 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. A 190,000 increase (12.6% y/y) in the total number of job openings more than reversed the declines of the prior two months.
The hires rate remained steady at 3.4% for the second consecutive month and equaled the 2004 average. The hires rate is the number of hires during the month divided by employment.
The job separations rate also remained steady at 3.4% but this year's levels have been elevated versus the 3.2% 2004 average. 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.
The Economic Role of Cities in the 21st Century from the Federal Reserve Bank of Philadelphia is available here.
| JOLTS (Job Openings & Labor Turnover Survey) | Sept | Aug | Sept '04 | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|
| Job Openings Rate: Total | 2.7% | 2.5% | 2.4% | 2.4% | 2.1% | 2.2% |
| Hires Rate: Total | 3.4% | 3.4% | 3.3% | 3.4% | 3.2% | 3.2% |
