Job openings increase
Today, the Bureau of Labor Statistics released theirof job availability and labor turnover (JOLT) showing that private non-farm job 鈥渙penings鈥� increased 8.79% since November climbing 20.36% above the level seen in December 2010 while private non-farm job 鈥渉ires鈥� declined 2.28% from November but rose 3.69% above the level seen in December 2010.
Job 鈥渓ayoffs and discharges鈥� declined 4.74% from November falling 1.36% below the level seen last year while quitting activity declined 2.45% from November remaining 3.41% above the level seen in December 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).
