Job Openings and Labor Turnover (JOLTS)

The monthly JOLTS report, published by the Bureau of Labor Statistics, provides data on labor demand and turnover. The release is already two months old when it comes out, but this important indicator gives us a pulse on the job market and can provide leading macroeconomic evidence.

This morning’s JOLTS report for January decreased to 10.8 million job openings, a decline of 6.5% from the revised December figure. The largest decreases in job openings were in construction, accommodation, food services (hospitality), and finance and insurance.

Hires were generally unchanged from December, while Quits and Layoffs are both heading in the opposite direction. Quits are up from December, indicating that fewer employees are quitting, while Layoffs are increasing. Layoffs increased most in professional and business services at 190K.