JOLTS: Job Openings and Labor Turnover Survey

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2013 Economic Calendar

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JOLTS Released On 11/22/2013 10:00:00 AM For Sep, 2013 Prior Consensus Consensus Range Actual Job Openings 3.883 M 3.830 M 3.800 M to 3.915 M 3.913 M Highlights There were 3.913 million job openings in September, little changed from 3.8.44 million in August. The number of job openings decreased in arts, entertainment, and recreation and was little changed in all remaining industries and in all four regions. The number of hires in September was 4.585 million, essentially unchanged from 4.559 million in August. The number of hires was little changed for total private and government, as well as for all industries and all four regions. There were 4.426 million total separations in September, little changed from 4.405 million in August. The number of total separations for total private and government were little changed. Market Consensus before announcement The Labor Department's Job Openings and Labor Turnover Survey showed that they were 3.883 million job openings on the last business day of August, up from July at a revised 3.808 million. The job openings rate improved slightly to 2.8 percent from 2.7 percent in July. The hires rate was unchanged at 3.3 percent in August while the separations rate edged up to 3.2 percent from 3.1 percent in July. These series are somewhat volatile on a monthly basis. The average monthly change over the last three months is down 8,000 for openings, down 1,000 for hires, and down 2,000 for separations. Definition The JOLTS report is the Labor Department’s Job Openings and Labor Turnover Survey. The headline number is job openings. The JOLTS report defines Job Openings as all positions that are open (not filled) on the last business day of the month. A job is "open" only if it meets all three of the following conditions: * A specific position exists and there is work available for that position. The position can be full-time or part-time, and it can be permanent, short-term, or seasonal, and * The job could start within 30 days, whether or not the establishment finds a suitable candidate during that time, and * There is active recruiting for workers from outside the establishment location that has the opening. Active recruiting means the establishment is taking steps to fill a position. It may include advertising in newspapers, on television, or on radio; posting Internet notices; posting "help wanted" signs; networking with colleagues or making "word of mouth" announcements; accepting applications; interviewing candidates; contacting employment agencies; or soliciting employees at job fairs, state or local employment offices, or similar sources. Job Openings does not include: * Positions open only to internal transfers, promotions or demotions, or recall from layoffs * Openings for positions with start dates more than 30 days in the future * Positions for which employees have been hired, but the employees have not yet reported for work * Positions to be filled by employees of temporary help agencies, employee leasing companies, outside contractors, or consultants. A separate form is used to collect information from temporary help/employee leasing firms for these employees. JOLTS defines hires as all additions to the payroll during the month. JOLTS defines separations as all employees separated from the payroll during the calendar month.  Why Investors Care   The Job Openings and Labor Turnover Survey provides a different angle to labor market conditions. The key numbers are job openings, hires, and total separations. Data Source: Haver Analytics