The Job Openings and Labor Turnover Survey (JOLTS), produced monthly by the U.S. Bureau of Labor Statistics (BLS), offers a comprehensive look at the health of the labor market. This report provides valuable insights into job vacancies, hiring trends, and employee turnover. Specifically, it details the number of job openings, the volume of new hires, and the rates of separations, which include voluntary quits, layoffs, discharges, and other forms of employee departure such as retirements.
By analyzing these metrics, the JOLTS report helps policymakers, economists, and business leaders gauge labor market demand and supply, assess the stability of employment, and identify trends in workforce mobility. For instance, a high number of job openings could indicate strong demand for labor, while a high quit rate might suggest that workers feel confident enough in the job market to leave their current positions for new opportunities. Overall, the JOLTS report is a crucial tool for understanding the dynamics of the employment landscape.
Job Openings and Labor Turnover – February
The U.S. Bureau of Labor Statistics reported that job openings held steady at 7.6 million in February, though this figure was down by 877,000 compared to last year. Total hires remained unchanged at 5.4 million (3.4%), and separations, including quits and layoffs, were stable at 5.3 million (3.3%).
Job Openings: Job openings stayed consistent at 7.6 million, with a job openings rate of 4.5%. However, over the year, job openings dropped by 877,000. The finance and insurance sector experienced a decline of 80,000 job openings.
Hiring Trends: The number of hires stayed stable at 5.4 million, reflecting a hiring rate of 3.4%. There were no significant changes across industries in February.
Separations: Total separations, including quits, layoffs, discharges, and other exits, remained steady at 5.3 million (3.3%). Quits stayed unchanged at 3.2 million, but over the year, they dropped by 273,000. Layoffs increased in retail trade and federal government, but decreased in transportation, warehousing, and utilities.
Impacts of JOLTs Report on the Stock Market
The JOLTs report for February 2025 highlights a mostly steady labor market. Job openings remained stable, though there was a decline compared to the previous year. Hiring levels stayed unchanged, and overall separations, including quits and layoffs, showed no major shifts.
However, some industries saw notable changes in which openings dropped in finance and insurance, while layoffs increased in retail and the federal government but decreased in transportation and warehousing. The report reflects consistent labor activity overall, with certain sectors facing specific challenges.
