November 2012 JOLTS Suggests Slowing Jobs Growth
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January 10, 2013 - 10:52am
Written by Steven Hansen
The BLS Job Openings and Labor Turnover Survey (JOLTS) has been a good predictor of future jobs growth:
the number of PRIVATE jobs openings - which is the most predictive of the JOLTS elements - was up 0.1% from last month, and 13.5% higher than one year ago;
with this month's data, the trend is no longer improving - and is flat (same rate of growth).
PRIVATE hires declined month-over-month and PRIVATE separations increased - in theory meaning the employment improvement is trending down.
The predictive part of the data is saying employment should be less good in the coming months.
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