Broker Check

Market Insight

| May 17, 2021
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JOLTS Report Paints Crazy Picture

The Labor Department creates the Job Openings and
Labor Turnover Survey – the JOLTS Report – which
tracks monthly changes in job openings as well as job
offerings and “quits.”
Unlike other reports that track employment data, the
JOLTS reporting period lags by a month, although it does
provide additional color to the employment landscape.
On Tuesday, May 11
th
, it was reported that the number of
job openings reached a series high of 8.1 million on the
last business day of March. Further:
• Hires were little changed at 6.0 million.
• Total separations were little changed at 5.3
million.
• Within separations, the quits rate was unchanged
at 2.4 percent while the layoffs and discharges
rate decreased to a series low of 1.0 percent.

Job Openings

“On the last business day of March, the job openings level
reached a series high of 8.1 million (+597,000). The job
openings series began in December 2000. The job
openings rate increased to 5.3 percent.
Job openings increased in a number of industries with the
largest increases in accommodation and food services
(+185,000); state and local government education
(+155,000); and arts, entertainment, and recreation
(+81,000). The number of job openings decreased in
health care and social assistance (-218,000).
The number of job openings increased in the Northeast
and Midwest regions.

Hires

In March, the number and rate of hires changed little at 6.0
million and 4.2 percent, respectively. Hires increased in
state and local government education (+62,000);
educational services (+31,000); and mining and logging
(+17,000).
The number of hires was little changed in all four regions.

Separations

Total separations includes quits, layoffs and discharges,
and other separations. Quits are generally voluntary
separations initiated by the employee. Therefore, the quits
rate can serve as a measure of workers’ willingness or
ability to leave jobs. Layoffs and discharges are
involuntary separations initiated by the employer. Other
separations includes separations due to retirement, death,
disability, and transfers to other locations of the same firm.
In March, the number and rate of total separations were
little changed at 5.3 million and 3.7 percent, respectively.
The total separations level decreased in construction
(-82,000) and in state and local government education
(-25,000).

Total separations were little changed in all four regions.”

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