Job openings and labor turnover up in July
Yesterday, the (JOLT) showing that private non-farm job 鈥渙penings鈥� increased 2.29% since June climbing 15.26% above the level seen in July 2010 while private non-farm job 鈥渉ires鈥� declined 2.03% from June remaining 1.92% above the level seen in July 2010.
Job 鈥渓ayoffs and discharges鈥� declined 3.65% from June falling 6.82% below the level seen last year while quitting activity increased 2.02% from June and 8.91% above the level seen in July 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).
