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Latest Job Openings And Labor Turnover (JOLTS) Report

Posted on Wed May 31 2023, 11:40
Grufity.com
Analysis of one of the leading indicators. This report is widely followed by investors to get a timely understanding of employment situation. Here we anlyze the latest numbers for April 30, 2023.

Job Openings are considered as one of the leading indicators that provides an important insight into the undercurrents in the economy. Historically, Federal Reserve members have considered this report essential to decide economic policy.

Number of Unemployed per Job Openings

0 2 4 6 2005 2010 2015 2020 Ratio Unemployed Persons Per Job Openings Source: Grufity.com, Bureau Of Labor Statistics

Jay Powell has mentioned in conferences that he gives a lot of value to the Unemployed to Job Openings ratio. As of April 30, 2023 this ratio stands at 0.56. A ratio less than 1 shows a strong job market with number of unemployed people less than number of job openings.

Job Openings

0 2500000 5000000 7500000 10000000 12500000 2005 2010 2015 2020 No. of Openings No. of Job Openings Source: Grufity.com, Bureau Of Labor Statistics
0 2 4 6 2005 2010 2015 2020 % Openings per Employed Job Openings Rate Source: Grufity.com, Bureau Of Labor Statistics

The number of job openings stood at 10.1 millions which is -1652000 lower than one year ago and 358000 higher than a month ago. The job openings rate stood at 6.1%.

Grufity Job Market Conditions Index

Grufity.com's Job Market Conditions Index is a leading indicator that measures various parameters across job and employment situation in the country. The indicator shows that the job market is worsening rapidly (although coming down from a very high levels).

-30 -20 -10 0 10 20 2005 2010 2015 2020 Index Grufity Job Market Condition Index Source: Grufity.com, Bureau Of Labor Statistics

Hires and Hiring Rate

0e+00 2e+06 4e+06 6e+06 8e+06 2005 2010 2015 2020 Persons No. of Hires Source: Grufity.com, Bureau Of Labor Statistics
0 2 4 6 2005 2010 2015 2020 % Hires Per Total Employed Hires Rate Source: Grufity.com, Bureau Of Labor Statistics

In April 30, 2023, the number of hires were 6.12 millions. The hiring rate stood at 3.9%. Hires include all additions to the payroll during the month including full-time and part-time hires.

Total Separations

0.0e+00 5.0e+06 1.0e+07 1.5e+07 2005 2010 2015 2020 Persons Total Separations Source: Grufity.com, Bureau Of Labor Statistics
2.5 5.0 7.5 2005 2010 2015 2020 Percentage Layoffs/Discharges Quits Separation Rates Source: Grufity.com, Bureau Of Labor Statistics

Total separations in April 30, 2023 were 5.71 millions. Out of these 1.58 millions were layoffs/Discharges and 3.79 millions were Quits. Total separation rate stood at 3.7%. Of which, Quits rate stood at 3.79% and Layoffs/Discharges rate stood at 1.58%.



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