by Bill McBride on 5/11/2011 10:20:00 AM
Wednesday, May 11, 2011
From the BLS: Job Openings and Labor Turnover Summary
The number of job openings in March was 3.1 million, up from 3.0 million in February. This marks the first time since November 2008 that job openings have been at or above 3.0 million for two consecutive months. The job openings level has trended up since the end of the recession in June 2009 (as designated by the National Bureau of Economic Research) but remains well below the 4.4 million openings when the recession began in December 2007.The following graph shows job openings (yellow line), hires (purple), Layoff, Discharges and other (red column), and Quits (light blue column) from the JOLTS.
Unfortunately this is a new series and only started in December 2000.
Note: The difference between JOLTS hires and separations is similar to the CES (payroll survey) net jobs headline numbers. This report is for March, the most recent employment report was for April.
Click on graph for larger image in graph gallery.
Notice that hires (purple) and total separations (red and blue columns stacked) are pretty close each month. When the purple line is above the two stacked columns, the economy is adding net jobs - when it is below the columns, the economy is losing jobs.
In general job openings (yellow) has been trending up - and are up 16% from March 2010. However the overall turnover remains low.
Posted by Bill McBride on 5/11/2011 10:20:00 AM