Looking deeper at today’s Job Openings and Labor Turnover report you can see that the rate of job hires continues to outpace the rate of job separations while job openings steadily improve resulting ( ... measured indirectly) in the gradual declining of the overall unemployment rate.The latest data indicates that private job hires are occurring at a rate of 3.6% of total employment while private job separations occurs at a rate of 3.4%.
It's important to note that today's data is very preliminary and volatile and that a more sustained and sustained spread between the rate of hires and separations would be required to make a significant dent in our current structurally weak job market.
