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 May 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 went up slightly to 2.2 percent and is still slightly below pre-recession levels. How much more it can increase is a big question for wage growth.
The number of unemployed workers per job opening increased slightly, but is still near historical lows.
The number of hires created from each job opening also jumped up thanks to the decline in the number of job openings. But the overall the trend in the vacancy yield appears to be sideways.