Job Openings and Labor Turnover Survey (JOLTS) for February 2021

The Job Openings and Labor Turnover Survey (JOLTS*) for February 2021 was released by the Labor Department this morning:

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Job Openings

Predicted: 7,000,000
Actual:    7,367,000

• Previous Month (revised): 7,099,000
  
  
• One Year Previous: 7,012,000

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Hires: 5,738,000 

Total Separations ^§: 5,456,000 

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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:

"...Coronavirus (COVID-19) Pandemic Impact on February 2021 Job Openings and Labor Turnover Survey Data

Data collection for the JOLTS survey was affected by the coronavirus (COVID-19) pandemic. While 42% of data are usually collected by phone at the JOLTS data collection center, most phone respondents were asked to report electronically. However, data collection was adversely impacted due to the inability to reach some respondents that normally respond by phone.

The JOLTS response rate for February was 45%, while response rates prior to the pandemic averaged 54%. More information about the impact of the COVID-19 pandemic on the JOLTS survey, including information about the JOLTS estimation methodology, is available at www.bls.gov/covid19/job-openings-and-labor-turnover-covid19-february-2021.htm..."

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Chart: Total Nonfarm Hires and Separation Rates
February 2021 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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• * = The JOLTS data series began back in December of 2000. 
  
  
• Click here to view the full Labor Department JOLTS report.
  
  

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