What is a Job Openings and Labor Turnover Survey?
The Job Openings and Labor Turnover Survey (JOLTS) is the name of a detailed report on the U.S. job market published each month by the Bureau of Labor Statistics.
How Does a Job Openings and Labor Turnover Survey Work?
Each month, the U.S. Bureau of Labor Statistics (BLS) conducts an employment data intake called the Job Openings and Labor Turnover Survey, or JOLTS, across U.S. industries unrelated to agriculture. The BLS uses the JOLTS to interview more than 15,000 workplaces across the United States. The JOLTS collects numerical and qualitative data with regard to staff size, hiring, open positions, employee discharges (firing and lay-offs), and resignations.
The BLS publishes the JOLTS on a monthly basis for all manner of research and analysis and presents its findings according to industry and geographic region. Many suggest reviewing the JOLTS alongside the Help-Wanted Index for a fuller understanding of the current job market.
Why Does a Job Openings and Labor Turnover Survey Matter?
The JOLTS analytically portrays the U.S. job market beyond unemployment rates and jobless claims. For this reason, it serves as a valuable resource for policy makers and indicates the direction of economic growth for analysts and academics.