- Korea: Housing Price Index (Apr)
- US: Consumer Sentiment (Apr-final), GDP (Q1 Adv), ECI (Q1)
- Consumer Sentiment Detail (Apr-final)
- US: Selected NIPA Tables (Q1-Adv), Summary key Source Data (Q1)
- Canada: GDP by Industry (Feb), Industrial Product Prices (Mar)
- *Taiwan National House Price Indexes Rebased to 2016=100.*
- Euro area: HICP (Apr-Flash), ECB Survey of Professional Forecasters (Q2)
- Italy: CPI, HICP (Apr-Prelim)
- Brazil: Sao Paolo Capacity Utilization (Mar);Mexico: Debt (Mar);
- more updates...
Economy in Brief
U.S. Employment Cost Index Has Stronger Gain
Lifted by outsized rises in several industries, the employment cost index for civilian workers rose 0.8% (2.4% y/y) during Q1'17...
Chicago Purchasing Managers Index Strengthens
The Chicago Purchasing Managers Business Barometer Index for April increased to 58.3 from 57.7 in March...
EMU Money and Credit Perk Up
There is some noticeable acceleration in EMU money and credit growth...
Durable Goods Orders Improvement Moderates
New orders for durable goods rose 0.7% (4.5% y/y) during March...
U.S. Initial Claims for Unemployment Insurance Increase
Initial unemployment claims for unemployment insurance rose to 257,000 during the week ended April 22...
U.S. Pending Home Sales Ease
The National Association of Realtors (NAR) reported that pending home sales slipped 0.8% ((+0.8% y/y) during March...
by Tom Moeller May 10, 2016
The job openings rate increased to 3.9% during March from 3.8% in February, revised from 3.7%. The increase was to a level which equaled the record high. The private sector job openings rate held steady m/m at 4.1%, slightly below the record. This rate compared to 2.2% 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 stronger as past vacancies were filled. The hires rate in March eased to 3.7%. The private sector rate declined m/m to 4.0%, and compared to 1.7% 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 increased 2.7% in March to 5.757 million (11.1% y/y), and neared July's record high. A 12.7% y/y rise in private sector openings was led by an 18.6% y/y increase in construction. That was followed by an 18.2% y/y rise in education & health services, and a 15.3% y/y increase in professional & business services. Manufacturing sector job openings increased 14.5% y/y, and openings in retail trade rose 9.6% y/y. Job openings in leisure & hospitality improved 4.7% y/y.
The number of hires declined 4.0% m/m to 5.292 million in March, but they were up 3.6% y/y. Private sector hiring increased 2.7% y/y, reflecting a 9.6% y/y rise in construction. Leisure & hospitality jobs improved 8.4% y/y, and education & health services jobs rose 5.4% y/y. Professional & business services employment was little changed y/y, while public sector jobs jumped 15.5% y/y.
The total job separations rate eased to 3.5%, down from its cycle high of 3.6%. The actual number of separations increased 1.2% y/y. Factory sector separations increased 10.0% y/y. Financial sector separations increased 8.5% y/y, and leisure & hospitality sector separations rose 4.8% y/y. Education & health care separations eased 0.4% y/y while professional & business services separations were little changed y/y. Separations include quits, layoffs, discharges, and other separations as well as retirements.
The layoff & discharge rate eased to 1.2%, and was near the record low. 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 13.3% y/y in the private sector, but were up 1.9% 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)||Mar||Feb||Jan||Mar '15||2015||2014||2013|
|Job Openings, Total|
|Layoffs & Discharges, Total|