Job Details
Chart of the Week for August 12, 2016 - August 18, 2016
The Bureau of Labor Statistics (BLS) conducts a monthly job openings and labor turnover survey (JOLTS) that collects data on Job Openings, Hires, Quits, Layoffs and Discharges. The data is collected from approximately 16,400 establishments and covers nonfarm establishments in the private sector as well as federal, state, and local governments across the 50 states and the District of Columbia.
The chart above compares the jobs data for the months of June in 2014, 2015 and 2016. The unemployment rate fell from 6.2% in June 2014 to 4.9% in June 2016. During that time, Job Openings increased 20.0% and Hires increased 6.0%. Separations and Quits increased by 8.0% and 18.0%, respectively. A growing Quits number is seen by some economists as an indicator that people are more confident in the labor market and are receiving better opportunities elsewhere. Along with the increase in Hires, Layoffs fell by 3.2%, which helped support the decrease in the unemployment rate. The improved job numbers have supported the positive growth in the U.S. economy.
Posted by: sarah_oz@yahoo.com
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