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Economy

Economic Data (USA)

Thursday, September 09, 2021

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

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

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Job Openings

Predicted: 10,300,000
Actual:    10,934,000 (New Record High)

  • Previous Month (revised): 10,185,000

  • One Year Previous: 6,717,000

  • Change from one year previous: +62.781% (+4,217,000)

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Hires: 6,667,000 

Total Separations §: 5,786,000 

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From Today's Release:

"...Job Openings: On the last business day of July, the number and rate of job openings increased to series highs of 10.9 million (+749,000) and 6.9 percent, respectively. Job openings increased in several industries, with the largest increases in health care and social assistance (+294,000); finance and insurance (+116,000); and accommodation and food services (+115,000). The number of job openings increased in the Northeast, South, and West regions..."

"...Collection Mode: Data collection for JOLTS was affected by the COVID-19 pandemic. Prior to the pandemic, JOLTS collected 42 percent of data by phone at the JOLTS data collection center on average. Most phone respondents were asked to report electronically. However, data collection was adversely affected by the inability to reach some respondents that normally respond by phone..."


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CHART: Hires and Total Separations Rates - July 2021 Update

CHART: Hires and Total Separations Rates
July 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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