Today's Report (11/12/2021)
The number of job openings was little changed at 10.4 million on the last business day of September, the U.S. Bureau of Labor Statistics reported today. Hires and total separations were little changed at 6.5 million and 6.2 million, respectively. Within separations, the quits level and rate increased to a series high of 4.4 million and 3.0%, respectively. The layoffs and discharges rate was unchanged at 0.9%.
On the last business day of September, the number and rate of job openings were little changed at 10.4 million and 6.6 percent, respectively. Job openings increased in health care and social assistance (+141,000); state and local government, excluding education (+114,000); wholesale trade (+51,000); and information (+51,000). Job openings decreased in state and local government education (-114,000); other services (-104,000); real estate and rental and leasing (-65,000); and educational services (-45,000). The number of job openings was little changed in all four regions.
In September, the number and rate of hires were little changed at 6.5 million and 4.4 percent, respectively. Hires increased in health care and social assistance (+109,000) and finance and insurance (+60,000). Hires decreased in state and local government education (-92,000) and educational services (-89,000). The number of hires was little changed in all four regions.
In September, the number and rate of total separations were little changed at 6.2 million and 4.2%, respectively. The number of quits increased in September to a series high of 4.4 million (+164,000). The quits rate also increased to a series-high 3.0%. In September, the number of layoffs and discharges was little changed at 1.4 million. The layoffs and discharges rate was unchanged at 0.9%. The number of other separations was little changed in September at 410,000.
What is it?
It publishes the total number of new hires and layoffs in the month, as well as how many job openings remained in that period.
How does it affect the markets?
The reaction is generally muted.
A survey done by the US Bureau of Labor Statistics to help measure job vacancies. It collects data from employers about their businesses employment, job openings, recruitment, hires, and separations.
JOLTS defines Job Openings as all positions that are open (not filled) on the last business day of the month. A job is "open" only if it meets all three of the following conditions:
1. A specific position exists and there is work available for that position.
2. The job could start within 30 days, whether or not the establishment finds a suitable candidate during that time.
3. There is active recruiting for workers from outside the establishment location that has the opening.
A reading that is stronger than forecast is generally supportive (bullish) for the USD, while a weaker than forecast reading is generally negative (bearish) for the USD.