JOLTS — Job Openings and Labor Turnover Survey
JOLTS measures the unmet demand for labor (job openings) and the churn of the labor market (hires, quits, layoffs, and other separations). It is the broadest single picture of how the labor market is moving, not just how big it is.
At A Glance#
| Field | Detail |
|---|---|
| Provider | U.S. Bureau of Labor Statistics (BLS) |
| Survey / Tool | Job Openings and Labor Turnover Survey (JOLTS) |
| Frequency | Monthly |
| Indicator Type | Mixed — Leading (Openings, Quits) + Coincident (Hires, Separations) |
| Main Use | Measures unmet labor demand (job openings) and labor-market churn (hires, quits, layoffs) |
| Live Series | Trading Economics — Job Offers |
What It Is#
JOLTS measures the unmet demand for labor (job openings) and the churn of the labor market (hires, quits, layoffs, and other separations). It is the broadest single picture of how the labor market is moving, not just how big it is.
It is distinct from Nonfarm Payrolls (NFP) (which only counts net job changes) because it shows the underlying flows — millions of people are hired and separate every month even when the net change in jobs is small.
Who Provides It#
BLS, through the Job Openings and Labor Turnover Survey (JOLTS). The survey panel is built from two sources: the BLS Quarterly Census of Employment and Wages (QCEW) program and the Federal Railroad Administration (FRA).
How It Is Collected#
- Monthly survey of approximately 21,000 nonfarm business establishments.
- Data is collected from respondents every month.
- The reference point for openings is the last business day of the month.
JOLTS data elements:
| Element | Definition |
|---|---|
| Job Openings | Positions open on the last business day of the month — work is available, the job can start within 30 days, and the employer is actively recruiting externally |
| Hires | Additions to payroll during the month |
| Quits | Voluntary separations initiated by employees |
| Layoffs and Discharges | Involuntary separations initiated by employers |
| Other Separations | Retirements, transfers to other locations, deaths, disability, etc. |
How It Is Computed#
JOLTS publishes both raw counts and rates. The key rates:
Indicator Type#
JOLTS bundles several series with different cycle timings:
| Series | Type | Why |
|---|---|---|
| Job Openings | Leading | Demand for workers appears before actual hiring happens |
| Quits | Leading (confidence proxy) | Workers quit more when they believe they can easily find another job — a real-time confidence signal |
| Hires | Coincident | Hiring has already happened by the time it shows up |
| Layoffs & Discharges | Coincident / Lagging | Captures involuntary separations that have already occurred |
| Other Separations | Mixed | Includes retirement, death, disability, transfers — less informative as a cycle signal |
Why It Matters#
JOLTS adds critical quality context to the labor market beyond the headline Unemployment Rate:
- High openings + high quits = strong worker demand and high worker confidence (often a sign the labor market is tight)
- Falling openings + rising layoffs = early sign of weakening labor demand
- High openings but stagnant hires = mismatch between available jobs and available workers (skills gap, geographic mismatch, wage expectations)
Related Notes#
- Nonfarm Payrolls (NFP) — shows actual net job growth; JOLTS shows the underlying flows
- Initial Jobless Claims — shows fresh layoffs faster than JOLTS layoff data
- Continuing Jobless Claims — together with JOLTS openings, indicates whether unemployed workers are finding new jobs