Job openings up slightly in May
Yesterday, the (JOLT) showing that private non-farm job 鈥渙penings鈥� increased slightly rising 0.83% since April and climbing 9.66% above the level seen in May 2010 while private non-farm job 鈥渉ires鈥� increased 1.71% from April and 5.09% above the level seen in May 2010.
Job 鈥渓ayoffs and discharges鈥� jumped a whopping 13.21% from April increasing 0.18% above the level seen last year while quitting activity increased 6.60% from April and 4.39% above the level seen in May 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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