JOLTS Day Graphs: September 2022 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 September 2022. 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 steady at 2.7 percent as 4.1 million workers quit their jobs in September 2022.

Quits as a percent of total U.S. employment, 2001–2022. Recessions are shaded.

The vacancy yield declined to 0.57 in September from almost 0.62 in August, as job openings rose to 10.7 million and hires decreased to 6.1 million.

U.S. total nonfarm hires per total nonfarm job openings, 2001–2022. Recessions are shaded.

The ratio of unemployed workers to job openings decreased to almost 0.54 in September from just less than 0.59 in August.

U.S. unemployed workers per total nonfarm job opening, 2001–2022. Recessions are shaded.

The Beveridge Curve moved upward in September as reported job openings rose and as the unemployment rate ticked down.

The relationship between the U.S. unemployment rate and the job openings rate, 2001–2022.

The overall number of reported job openings increased by 437,000 in September, with openings rising in construction, education and health services, and leisure and hospitality, but falling in financial activities and manufacturing.

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