JOLTS Day Graphs: April 2021 Edition

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 April 2021. 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 reached a series high of 2.7 percent as nearly 4 million workers quit their jobs in April.

Quits as a percent of total U.S. employment, 2001-2021. Recessions are shaded.

As job openings reached a series high of 9.3 million and hires stayed constant, the vacancy yield declined in April.

U.S. total nonfarm hires per total nonfarm job openings, 2001-2021. Recessions are shaded.

The ratio of unemployed-worker-per-job-opening was 1.06 in April, approaching its level of less than 1.0 prior to the recession. 

U.S. unemployed workers per total nonfarm job opening, 2001-2020. Recessions are shaded.

The Beveridge Curve moved sharply upwards with the historic level of job openings and continued to be in unprecedented territory compared to previous business cycles.

The relationship between the U.S. unemployment rate and the job opening rate, 2001-2020
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