Beveridge Curve Balancing Act: July 2013

Looking deeper at today’s Job Openings and Labor Turnover report you can see that the rate of job hires continues to outpace the rate of job separations while job openings steadily improve resulting ( ... measured indirectly) in the gradual declining of the overall unemployment rate.

The latest data indicates that private job hires are occurring at a rate of 3.6% of total employment while private job separations occurs at a rate of 3.4%.

It's important to note that today's data is very preliminary and volatile and that a more sustained and sustained spread between the rate of hires and separations would be required to make a significant dent in our current structurally weak job market.

Economic Jolt: Job Openings and Labor Turnover July 2013

Today, the Bureau of Labor Statistics released their latest monthly read of job availability and labor turnover (JOLT) showing that private non-farm job “openings” declined 5.06% since June but remained 2.27% above the level seen in July 2012 while private non-farm job “hires” rose 2.40% from June remaining 3.61% above the level seen in July 2012.

Job “layoffs and discharges” declined 5.19% from June falling 3.85% below the level seen last year while quitting activity increased 3.64% from June remaining 5.16% above the level seen in July 2012.

It’s important to understand that job “quits” are included as a component of the “separations” data series as “quitting” is a valid means of workers “separating” 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).

Economic Jolt: Job Openings and Labor Turnover December 2012

Today, the Bureau of Labor Statistics released their latest monthly read of job availability and labor turnover (JOLT) showing that private non-farm job “openings” declined 4.96% since November but remained 2.16% above the level seen in December 2011 while private non-farm job “hires” declined a notable 4.77% from November remaining just 0.67% above the level seen in December 2011.

Job “layoffs and discharges” declined 8.17% from November falling 6.30% below the level seen last year while quitting activity declined 0.64% from November remaining 8.25% above the level seen in December 2011.

It’s important to understand that job “quits” are included as a component of the “separations” data series as “quitting” is a valid means of workers “separating” 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).

Economic Jolt: Job Openings and Labor Turnover July 2012

Today, the Bureau of Labor Statistics released their latest monthly read of job availability and labor turnover (JOLT) showing that private non-farm job “openings” declined 2.06% since June climbing 7.65% above the level seen in July 2011 while private non-farm job “hires” declined 1.68% from June but rose 1.73% above the level seen in July 2011.

Job “layoffs and discharges” 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’s important to understand that job “quits” are included as a component of the “separations” data series as “quitting” is a valid means of workers “separating” 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).

Economic Jolt: Job Openings and Labor Turnover December 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 “openings” increased 8.79% since November climbing 20.36% above the level seen in December 2010 while private non-farm job “hires” declined 2.28% from November but rose 3.69% above the level seen in December 2010

Job “layoffs and discharges” declined 4.74% from November falling 1.36% below the level seen last year while quitting activity declined 2.45% from November remaining 3.41% above the level seen in December 2010.

It’s important to understand that job “quits” are included as a component of the “separations” data series as “quitting” is a valid means of workers “separating” 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).