- Sweden: Consumer Confidence, Business Tendency Survey, Public Finance (Mar)
- Spain: Mortgage Market (Jan), Order Book Forecast (Mar)
- Italy: ISTAT Business & Consumer Survey Press Release (Mar)
- Germany: Business Registrations & Deregistrations (Dec), Import & Export Prices (Feb), IAB Labor Market Barometer (Mar)
- Vietnam: GDP (Q1), CPI, IP, International Trade, Passenger & Cargo Traffic Statistics, Manufacturing Sales and Inventories, International Visitor Arrivals (Mar); Korea: Economic Sentiment
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Economy in Brief
U.S. Energy Product Prices Remain Under Pressure
Regular gasoline prices held steady at $2.32 per gallon last week (12.1% y/y) for the third straight week...
German Federal Debt Levels Fall
German debt level fell outright in Q4 2016 as the ratio of federal debt-to-GDP also fell...
NABE 2018 Forecast: Modest Improvement in Economic Growth & Higher Inflation
The NABE expects 2.5% real U.S. economic growth in 2018 compared to 2.3% forecast for 2017...
Texas Factory Sector Activity Remains Strong
The Dallas Fed indicated in its Texas Manufacturing Outlook Survey that the General Business Activity Index eased during March...
EMU Money and Credit Growth Are Less Than Impressive Than Euro-PMIs
EMU nominal money supply growth is slightly higher over three months, but credit growth in the EMU is slower...
Durable Goods Orders Strengthened by Another Jump in Aircraft
New orders for durable goods rose 1.7% (5.0% y/y) during February...
by Tom Moeller March 17, 2016
The job openings rate improved to 3.7% during January from 3.6% in December. Revisions sharply lowered figures back to 2013, but benchmark revisions extend back to 2000. The private sector job openings rate of 4.0% compared to 2.1% in the public sector. The job openings rate is the number of job openings on the last business day of the month as a percent of total employment plus job openings. Hiring was less strong. The hires rate in January totaled 3.5%, down from the December high of 3.8%. The private sector rate declined sharply m/m to 3.9%, and compared to 1.5% in the public sector. The hires rate is the number of hires during the month divided by employment. The Bureau of Labor Statistics reports these figures in its Job Openings & Labor Turnover Survey (JOLTS).
The actual number of job openings rose 4.9% in January to 5.541 million, up 11.4% y/y. A 13.9% y/y rise in private sector openings was led by a 35.0% surge in construction. That was followed by a 26.6% y/y increase in health care & social assistance. Retail trade openings gained 24.9% y/y and openings in professional & business services increased 22.4% y/y. Factory sector openings improved 9.8% y/y, but leisure & hospitality openings fell 1.6% y/y. In the government sector, job openings declined 9.7% y/y.
The number of hires decreased 6.9% m/m to 5.029 million in January, and they were down 0.5% y/y. Private sector hiring eased 0.3% y/y, reflecting a 6.8% increase in professional & business services and an 8.6% y/y rise in manufacturing. Leisure & hospitality hiring gained 5.7%, but construction sector jobs declined 20.1% y/y. Health care & social assistance jobs fell 2.5% y/y. Government sector hiring declined 2.4% y/y.
The total job separations rate plunged to 3.4% as it reversed December's run-up to 3.6%. The actual number of separations increased 0.4% y/y. Factory sector separations increased 3.6% y/y while education & health care separations gained 2.2% y/y. Professional & business services separations increased 4.5% y/y and leisure & hospitality separations rose 2.6% y/y. Retail trade separations declined 5.1% y/y. Separations include quits, layoffs, discharges, and other separations as well as retirements.
The layoff & discharge rate held near the record low at 1.2%. The private sector rate of 1.3% also was near the all-time low and compared to 0.5% in the public sector. Layoffs overall declined 5.2% y/y in the private sector, and 7.3% y/y in the public sector.
The JOLTS survey dates to December 2000 and the figures are available in Haver's USECON database.
|JOLTS (Job Openings & Labor Turnover Survey, SA)||Jan||Dec||Nov||Jan '14||2015||2014||2013|
|Job Openings, Total|
|Layoffs & Discharges, Total|