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Economy

Economic Data (USA)

Wednesday, September 09, 2020

Job Openings and Labor Turnover Survey (JOLTS) for July 2020

The Job Openings and Labor Turnover Survey (JOLTS*) for July 2020 was released by the Labor Department this morning:

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Job Openings

Predicted: 6,400,000
Actual:    6,618,000

  • Previous Month (revised): 6,001,000

  • One Year Previous: 7,236,000

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Hires: 5,787,000 

Total Separations §: 5,007,000 

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The above, yellow-highlighted percentage represents the estimated number of job openings in the United States during the indicated month. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

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From Today's Release:

"...These changes in the labor market reflected an ongoing resumption of economic activity that had been curtailed due to the coronavirus (COVID-19) pandemic and efforts to contain it. This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, and by four geographic regions..."

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Chart: Total Nonfarm Hires and Separation Rates - July 2020 Update
Chart: Total Nonfarm Hires and Separation Rates

July 2020 Update
 
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§ = Here's How The Labor Department Defines Total Separations:

"Total separations includes quits, layoffs and discharges, and other separations. Total separations is referred to as turnover. Quits are generally voluntary separations initiated by the employee. Therefore, the quits rate can serve as a measure of workers’ willingness or ability to leave jobs. Layoffs and discharges are involuntary separations initiated by the employer. Other separations includes separations due to retirement, death, disability, and transfers to other locations of the same firm."

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