Paper Economy - A US Real Estate Bubble Blog: Economic Jolt: Job Openings and Labor Turnover October 2011

Tuesday, December 13, 2011

Economic Jolt: Job Openings and Labor Turnover October 2011

Today, the Bureau of Labor Statistics released their latest monthly read of job availability and labor turnover (JOLT) showing that private non-farm job “openings” declined 3.20% since September climbing 13.55% above the level seen in October 2010 while private non-farm job “hires” declined 2.65% from September and rose 5.64% above the level seen in October 2010

Job “layoffs and discharges” declined 6.92% from September falling 2.61% below the level seen last year while quitting activity declined 3.56% from September remaining 9.85% above the level seen in October 2010.

It’s important to understand that job “quits” are included as a component of the “separations” data series as “quitting” is a valid means of workers “separating” from employers but their inclusion tends to create an overall procyclical trend in what would otherwise be logically thought of as a countercyclical process (i.e. downturn leads to increase in separations not decrease).

Labels: economy, JOLT, labor turnover, unemployment

7 Comments:

Thanks for the nice stats related to job opening and labor turnover... Great informational post....

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By shehzil, at 4:32 AM
Wow, you really presented the graphics well. Thank you for sharing this to us. I like it and its really helpful to everyone.

By real estate in us, at 8:11 AM
It's good to know this stats and the latest Job openings and labor turnover. The graphs are very accurate. Great!

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By Anonymous, at 6:44 PM
I would like to comment about the current condition of the american economy.I wish their was something more postive to say but theirs not. This is one of the hardest periods in the countries history. Their does not seem to be any consensus about the trends for the economy one week the economic news is good the next week its bad. Their seems to be no consistency what so ever when it comes to economic matters. Mcdonald’s recently hired fifty or sixty thousand people out of one million that applied maybe mcdonald’s should change their saying you deserve a break today at mcdonald’s to you deserve a job today at mcdonald’s. As far as those banksters go I say lets exchange those three piece suits and briefcases for a pick' a shovel' a bucket' and some pinstripes. Inflation Is the primary reason for much of the growing income inequality between the rich and the poor. It is also I believe the cause of the decline of the middle class. When ever the employing class and by Employing class I Mean anyone or any company That hires personal And gives them a regular paycheck. Their is always a tendency to undercompensate your personal less and less over time simply because when prices rise wages generally lag increases in prices at least for a substantial portion of the working population. Workers do not have much ability to control their wages and benifits. But companies that employ personal have much to say about the wages and benifits that their employees receive. Companies have been undercompensating their personal for decades in an attempt to increase their bottom lines. They have been systematically undercompensating their personal less than the increase in prices on purpose. The result is many workers have little income left over for any purpose other than basic needs food' rent' necessary clothing' utilities' medical bills' Its no wonder that the economy is in serious trouble.

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