New job openings decrease
Today, the Bureau of Labor Statistics released their latest monthly read of job availability and labor turnover (JOLT) showing that private non-farm job 鈥渙penings鈥� declined 1.57% since October climbing 6.82% above the level seen in November 2010 while private non-farm job 鈥渉ires鈥� increased 2.11% from October and rose 5.37% above the level seen in November 2010.
Job 鈥渓ayoffs and discharges鈥� increased 5.68% from October falling 1.19% below the level seen last year while quitting activity increased 1.83% from October remaining 11.37% above the level seen in November 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).
