Global| Sep 07 2004JOLTS July Update: US Hiring Improved But Slower
by:Tom Moeller
|in:Economy in Brief
Summary
The Job Openings & Labor Turnover Survey (JOLTS) from the Bureau of Labor Statistics for July continued to indicate improved hiring, but at a slower rate than in June. The hires rate fell to 3.2% from an upwardly revised 3.4% in June. [...]
The Job Openings & Labor Turnover Survey (JOLTS) from the Bureau of Labor Statistics for July continued to indicate improved hiring, but at a slower rate than in June. The hires rate fell to 3.2% from an upwardly revised 3.4% in June. These figures are versus the monthly low of 3.0% last Spring and 3.1% during all of last year.
The hires rate in manufacturing slipped to 2.4% from 2.6% in June but remained above the 2.2% averaged last year.
The survey dates only to December 2000 but has since followed closely the movement in nonfarm payrolls.
The job openings rate rose to 2.4%, the highest level since October 2002.
Chairman Greenspan's testimony on the economic outlook is available here.
| JOLTS (Job Openings & Labor Turnover Survey) | July | June | July '03 | 2003 | 2002 | 2001 |
|---|---|---|---|---|---|---|
| Job Openings Rate: Total | 2.4% | 2.3% | 2.1% | 2.1% | 2.2% | 2.8% |
| Hires Rate: Total | 3.2% | 3.4% | 3.1% | 3.1% | 3.2% | 3.5% |
Tom Moeller
AuthorMore in Author Profile »Prior to joining Haver Analytics in 2000, Mr. Moeller worked as the Economist at Chancellor Capital Management from 1985 to 1999. There, he developed comprehensive economic forecasts and interpreted economic data for equity and fixed income portfolio managers. Also at Chancellor, Mr. Moeller worked as an equity analyst and was responsible for researching and rating companies in the economically sensitive automobile and housing industries for investment in Chancellor’s equity portfolio. Prior to joining Chancellor, Mr. Moeller was an Economist at Citibank from 1979 to 1984. He also analyzed pricing behavior in the metals industry for the Council on Wage and Price Stability in Washington, D.C. In 1999, Mr. Moeller received the award for most accurate forecast from the Forecasters' Club of New York. From 1990 to 1992 he was President of the New York Association for Business Economists. Mr. Moeller earned an M.B.A. in Finance from Fordham University, where he graduated in 1987. He holds a Bachelor of Arts in Economics from George Washington University.
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