by Bill McBride on 2/07/2017 10:06:00 AM
Tuesday, February 07, 2017
From the BLS: Job Openings and Labor Turnover Summary
The number of job openings was little changed at 5.5 million on the last business day of December, the U.S. Bureau of Labor Statistics reported today. Over the month, hires and separations were also little changed at 5.3 million and 5.0 million, respectively. ...The following graph shows job openings (yellow line), hires (dark blue), Layoff, Discharges and other (red column), and Quits (light blue column) from the JOLTS.
The number of quits was little changed in December at 3.0 million. The quits rate was 2.0 percent. Over the month, the number of quits was little changed for total private and for government.
This series 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 December, the most recent employment report was for January.
Click on graph for larger image.
Note that hires (dark blue) and total separations (red and light blue columns stacked) are pretty close each month. This is a measure of labor market turnover. When the blue line is above the two stacked columns, the economy is adding net jobs - when it is below the columns, the economy is losing jobs.
Jobs openings were mostly unchanged in December at 5.501 million compared to 5.505 million in November. Job openings are mostly moving sideways at a high level.
The number of job openings (yellow) are up 4% year-over-year.
Quits are down 3% year-over-year. These are voluntary separations. (see light blue columns at bottom of graph for trend for "quits").
This is another solid report.
Posted by Bill McBride on 2/07/2017 10:06:00 AM