Economic Jolt: Job Openings and Labor Turnover February 2011

Apr. 13, 2011 12:56 PM ET1 Comment
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Sold At The Top

Today, the Bureau of Labor Statistics released its latest monthly read of job availability and labor turnover (JOLT), showing that private non-farm job “openings” jumped a notable 14.10% since January, climbing 27.79% above the level seen in February 2010; private non-farm job “hires” increased a notable 4.33% since January, climbing 4.65% above the level seen in February 2010; and job “layoffs and discharges” increased 2.14% since January while dropping 8.99% below the level seen last year.

It’s important to understand that job “quits” are included as a component of the “separations” data series as “quitting” is a valid means of workers “separating” from employers, but their inclusion tends to create an overall procyclical trend in what would otherwise be logically thought of as a countercyclical process (i.e. downturn leads to increase in separations not decrease).

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“Sold At TheTop” is the snarky pseudonym for the organic blogger that maintains the reasonably popular blog PaperEconomy ( “Sold”, as he prefers to be called is not a professional economist, analyst or stock trader and has neither been trained in finance nor statistics. What Sold offers is a dedicated and serious passion for macroeconomic analysis and further, for the creation of striking, some say even artistic, visualizations of macroeconomic data. Though not a “perma-bear” Sold is very bearish about the current state and future of the American economy. Sold is NOT A PESSIMIST by nature but a true skeptic and a realist that prefers solid and sustained evidence of fundamental economic recovery to “Goldilocks”, “Green Shoots”, “Mustard Seeds” and wholesale speculation. Further, Sold believes that the evidence for rational and efficient markets as well as collective wisdom is scant. In his spare time Sold works as an independent software consultant spewing out cutting edge code like he’s spraying silly string.

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