Job openings and hires increase in March
Today, the (JOLT) showing that private non-farm job 鈥渙penings鈥� increased 2.78% since February climbing 23.22% above the level seen in March 2010 while private non-farm job 鈥渉ires鈥� increased 1.39% from February and 0.48% above the level seen in March 2010.
Job 鈥渓ayoffs and discharges鈥� declined 0.13% from February while dropping 9.46% below the level seen last year while quitting activity continues to climb increasing 2.01% from February and 8.67% above the level seen in March 2010.
It鈥檚 important to understand that job 鈥渜uits鈥� are included as a component of the 鈥渟eparations鈥� data series as 鈥渜uitting鈥� is a valid means of workers 鈥渟eparating鈥� from employers but their inclusion tends to create an overall procyclical trend in what would otherwise be logically thought of as a countercyclical process (i.e. downturn leads to increase in separations not decrease).
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