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JOLTS Day Graphs: June 2019 Report 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 June 2019. 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.

1. The quit rate has held steady at 2.3% for over a year, reflecting workers’ confidence in finding other opportunities and voluntarily leaving their jobs.

2. The jobs openings rate declined slightly to 4.6% while the hire rate was unchanged at 3.8%, so the labor market still appears tight with more openings than hires.

3. There continues to be fewer than one unemployed worker per job opening, which has the potential to increase the bargaining power of job seekers.

4. Despite a slight increase in unemployment and a slight decrease in the job openings rate, the Beveridge Curve reflects an expansionary labor market.

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JOLTS Day Graphs: June 2019 Report Edition

August 6, 2019

AUTHORS:

Topics

1.

The quit rate has held steady at 2.3% for over a year, reflecting workers’ confidence in finding other opportunities and voluntarily leaving their jobs.

2.

The jobs openings rate declined slightly to 4.6% while the hire rate was unchanged at 3.8%, so the labor market still appears tight with more openings than hires.

3.

There continues to be fewer than one unemployed worker per job opening, which has the potential to increase the bargaining power of job seekers.

4.

Despite a slight increase in unemployment and a slight decrease in the job openings rate, the Beveridge Curve reflects an expansionary labor market.

August 6, 2019

AUTHORS:

Topics

U.S. economic mobility trends and outcomes

U.S. income and wealth inequality are no longer increasing, but a return to the equitable levels of the mid-20th century isn’t likely anytime soon