June 6, 2017 – The JOLTs report is the Job Openings and Labor Turnover Survey that tracks several trends in evaluating the labor market. Through JOLTs, we are able to see voluntary and involuntary separations from employment in addition to new job openings and hires that have taken place.
Job openings in April rose to a rate of 6.044 million, up from March’s upwardly revised rate of 5.785 million, (from 5.743 million). Total hires came in at a rate of 5.051 million while quits came in at 3.027 million, with the hires rate at 3.5% and quits rate at 2.1%. Ending in April, 12 month hires reached 62.9 million while separations came in at 60.7 million, causing an increase in net employment of 2.2 million.
Job openings surpassed previous record highs in April and look to continue the upward trend moving forward. Openings and hires have diverged in April indicating a skill deficiency in the labor market. There was a record number of openings (775,000) for the accommodation and food services in April. The quit rate remaining unchanged and openings increasing shows that people are still confident in finding a job after leaving their previous one.