Every month the U.S. Bureau of Labor Statistics releases data on hiring, firing, and other labor market flows from the Job Openings and Labor Turnover Survey, better known as JOLTS. Today, the BLS released the latest data for March 2017. This report doesn’t get as much attention as the monthly Employment Situation Report, but it contains useful information about the state of the U.S. labor market. Below are a few key graphs using data from the report.
The quits rate remained at 2.1 percent in March, the level it’s been at, except for one month, since May 2016.
The number of unemployed workers per job opening dropped to 1.25, a low not seen since early 2001.
The vacancy yield, or the number of hires per job opening, ticked down slightly to 0.92. The yield has been around this level for a year at this point.