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JOLTS is the Job Openings and Labor Turnover Survey produced by the U.S. Bureau of Labor Statistics. Although less well known than the so-called unemployment report, JOLTS provides useful information about the state of U.S. labor markets. Since its introduction in 2001-2002, JOLTS has helped economists and business planners gauge the availability of unfilled jobs. Specifically, based on a survey of about 16,000 non-agricultural establishments nationwide, the JOLTS estimates a job openings rate. JOLTS data includes employment for the pay period ending the 12th of each month and the number of job openings on the last business day of the month. Importantly, JOLTS includes information on hires, quits, layoffs and separations, and other discharges for the entire month. Thus JOLTS is useful for understanding business cycles and the nature of unemployment in the economy. JOLTS is issued in the first or second week of each month based on data for the month before last. |
