Job openings and hires decline in July
Job openings declined 2.06 percent since June, climbing 7.65 percent above the level seen a year ago, according to the latest data from the Bureau of Labor Statistics. Job hires declined 1.68 percent from June but rose 1.73 percent above the level seen in July 2011.
Job openings declined 2.06 percent since June, climbing 7.65 percent above the level seen a year ago, according to the latest data from the Bureau of Labor Statistics. Job hires declined 1.68 percent from June but rose 1.73 percent above the level seen in July 2011.
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 2.06% since June climbing 7.65% above the level seen in July 2011 while private non-farm job 鈥渉ires鈥� declined 1.68% from June but rose 1.73% above the level seen in July 2011.
Job 鈥渓ayoffs and discharges鈥� declined 12.15% from June falling 7.15% below the level seen last year while quitting activity rose 1.50% from June climbing 7.87% above the level seen in July 2011.
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).