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