JOLTS: A Vital Source of Labor Market Data
The Job Openings and Labor Turnover Survey
What is JOLTS?
The Job Openings and Labor Turnover Survey (JOLTS) is a monthly survey conducted by the Bureau of Labor Statistics (BLS) that provides data on job openings, hires, separations, and layoffs in the United States.
Why is JOLTS important?
JOLTS data is used by economists, policymakers, and businesses to track labor market trends and identify areas of strength and weakness. It is also used to gauge the overall health of the economy.
How is JOLTS data collected?
JOLTS data is collected through a survey of businesses with 50 or more employees. The survey asks businesses about the number of job openings they have, the number of workers they hired, the number of workers who quit or were laid off, and the number of workers who were recalled to work.
Conclusion
JOLTS is a valuable source of information on the labor market. It provides insights into the number of job openings available, the rate at which people are being hired and fired, and the overall health of the economy. JOLTS data is used by economists, policymakers, and businesses to make informed decisions about the economy and the workforce.
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