Job Openings and Labor Turnover Survey shows an uptick in hiring
Below, EPI senior economist Elise Gould offers her insights on today’s release of the Job Openings and Labor Turnover Survey (JOLTS) for February. Read the full thread here.
The slight uptick in the hires rate is promising. At 3.7%, the hires rate for February is still a little below the pre-pandemic average of about 3.9%, but I’m happy to see it moving in the right direction after dipping down at the end of 2023. Layoffs below pre-pandemic average. pic.twitter.com/G7CIZ6c9aP
— Elise Gould (@eliselgould) April 2, 2024
As of the February data, the hires rate remains above the quits rate in every sector. Overall, the hires and quits rates are slightly below pre-pandemic averages. Some workers are still quitting in search of better opportunities but the labor market is decidedly not hot. pic.twitter.com/3QopNhlgxt
— Elise Gould (@eliselgould) April 2, 2024
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