- Weekly: **Unemployment Initial Claims Data have been revised**
- US: Housing Starts by State and Region (Feb)
- CPB World Trade Monitor (Jan)
- CPB World Trade Monitor (Jan)
- France: Registered Unemployed & Job Vacancies (Feb)
- US: Household Employment for States and Regions (Feb)
- US: Wholesale Trade Revisions, Advance Durable Goods (Feb)
- Manufacturing Survey - Markit US (Flash - Mar), Composite Survey - US (Flash - Mar), Services Survey - US (Flash - Mar)
- more updates...
Economy in Brief
Correction to Unemployment Insurance Weekly Claims
The Department of Labor has issued a correction to yesterday's annual revision to seasonally adjusted weekly unemployment claims...
EMU PMIs Are Off to the Races...Farewell Mediocrity?
The PMI rankings for the manufacturing and service sector PMIs in the EMU are suddenly off the chart...
U.S. New Home Sales Improve While Prices Decline
Sales of new single-family homes increased 6.1% (12.8% y/y) during February to 592,000 units (AR)...
Kansas City Federal Reserve Factory Index Strengthens; Expectations Surge
The Kansas City Fed reported that its index of regional manufacturing sector business activity increased to 20 during March...
U.S. Initial Unemployment Insurance Claims Rise
Initial claims for unemployment insurance increased to 258,000 (-3.0% y/y) during the week ended March 18...
U.K. Retail Looks Less Bulletproof
For the most part, the assessments embodied in the March survey from the UK's CBI are being taken as being upbeat...
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|