Thursday, July 14, 2011

Another Sign of Struggles on the Job Creation Front

The Federal Reserve Bank of Atlanta submits:

By Dave Altig, senior vice president and research director at the Atlanta Fed

Hot on the heels of the bleak employment report for June, the U.S. Bureau of Labor Statistics yesterday released another important bit of labor market information: the May Job Openings and Labor Turnover Survey (pdf), commonly known as JOLTS. Calculated Risk accentuated the positive:

"In general job openings (yellow) has been trending up?and job openings increased slightly again in May?and are up about 7% year-over-year compared to May 2010.

"Overall turnover is increasing too, but remains low. Quits increased again and have been trending up?and quits are now up about 10% year-over-year (usually a sign of more confidence in the labor market)."

The hires and quits angle was noted at Modeled Behavior as well, but at Zero Hedge Tyler Durden isn't in the mood for even muted optimism:

"There was nothing to smile about in today's May

Complete Story »

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