Obviously, there weren't 6 million jobs gained in March - just 770,000, because 5.3 million people left jobs (via quitting, changing jobs, layoffs, etc.) But what I wanted to look at was whether there were signs as to whether these openings corresponded to the job growth in certain sectors. In particular, I found the decline in manufacturing and the 0 gain in construction jobs in April to be odd, given that we'd seen indicators that those sectors had good growth going into that month. And the JOLTS report is enlightening with these questions, at least in construction, where the trend in openings and job growth largely matched up between December and March.
In March, U.S. job openings climbed for a third straight month to a record-high 8.12 million, up from 7.53 million in February, while about 6 million people were hired. See the related @BLS_gov data in FRED #JOLTS https://t.co/vxGzibQDSF pic.twitter.com/904nkhbOZQ— St. Louis Fed (@stlouisfed) May 11, 2021
Tuesday, May 11, 2021
JOLTS and jobs - they often work together
In the wake of the surprisingly low job growth for April, we continue to hear complaints from employers and Republicans that people aren't applying to open jobs. And that theory got some backing from today's Job Openings and Labor Turnover (JOLTS) report.
Posted by Jake formerly of the LP at 7:22:00 PM