Job openings down 5.06 percent in July
The latest read of job openings and labor turnover (JOLT) from the BLS showed that job openings dropped 5.06 percent in June but remained 2.27 percent above the level seen in July 2012.
This chart shows the monthly and annual change in nonfarm job openings over the past decade. Job openings dropped 5.06 percent in July, but hires rose 2.4 percent.
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Today, the Bureau of Labor Statistics released theirof job availability and labor turnover (JOLT) showing that private non-farm job 鈥渙penings鈥� declined 5.06% since June but remained 2.27% above the level seen in July 2012 while private non-farm job 鈥渉ires鈥� rose 2.40% from June remaining 3.61% above the level seen in July 2012.
Job 鈥渓ayoffs and discharges鈥� declined 5.19% from June falling 3.85% below the level seen last year while quitting activity increased 3.64% from June remaining 5.16% above the level seen in July 2012.聽
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).