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Secret Information From the BLS

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ECON GEEK SPEAK

Jeffrey A. Miller, Ph.D.,NewArc Investments, Inc., CEO, is a frequent blogger on economics with the ability to explain complex subjects. This week he took up the BLS report on the Job Openings and Labor Turnover Survey (JOLTS) and explained why this little-watched report is an important component of the larger emnployment picture:

"Key facts you probably did not know:

  • At the end of June there were about 2.5 million job openings nationwide;
  • During June there were 3.8 million new hires;
  • 1.8 million people quit their jobs (seasonally adjusted);
  • There were 2.5 million involuntary separations.
The reality?  These numbers are all terrible!"

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