+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

Here come JOLTS...

Dec 7, 2016, 20:04 IST

Lightning strikes One World Trade Center in Manhattan as the sun sets behind the city after a summer storm in New York.Reuters/Lucas Jackson

The latest Job Openings and Labor Turnover report from the Bureau of Labor Statistics will cross the wires at 10 a.m. ET.

Advertisement

Economists forecast that job openings rose to 5.5 million, according to the Bloomberg consensus.

Last month, job openings fell to 5.4 million. Economists hadn't expected a drop that big, but it followed an uptick to record highs in the previous months.

Notably, the JOLTS report also contains the quits rate, which Federal Reserve Chair Janet Yellen has endorsed as a preferred metric.

The previous report showed that the quits rate - the number of quits divided by the number of employees who worked or were paid for work - came in at 2.1%. The share of total quits in relation to separations - voluntary or not - jumped to 60.2%, matching the post-recession high reached in December.

Advertisement

A higher quits rate sends a positive message about the labor market because people are more likely to quit their jobs if they feel confident about finding a new one quickly, or if they already have another offer. It could also suggest that workers are leaving their jobs for better-paying ones, and so be a predictor of wage growth and inflation.

Refresh this page for updates at 10 a.m. ET.

NOW WATCH: In the 1970s the CIA created a spy drone the size of a dragonfly

Please enable Javascript to watch this video
Next Article