Job Openings and Labor Turnover Survey - Explained
What is the Job Openings and Labor Turnover Survey?
Written by Jason Gordon
Updated at March 28th, 2023
- Marketing, Advertising, Sales & PR
- Accounting, Taxation, and Reporting
- Professionalism & Career Development
-
Law, Transactions, & Risk Management
Government, Legal System, Administrative Law, & Constitutional Law Legal Disputes - Civil & Criminal Law Agency Law HR, Employment, Labor, & Discrimination Business Entities, Corporate Governance & Ownership Business Transactions, Antitrust, & Securities Law Real Estate, Personal, & Intellectual Property Commercial Law: Contract, Payments, Security Interests, & Bankruptcy Consumer Protection Insurance & Risk Management Immigration Law Environmental Protection Law Inheritance, Estates, and Trusts
- Business Management & Operations
- Economics, Finance, & Analytics
- Courses
What is the Job Openings and Labor Turnover Survey?
JOLTS is a survey carried out to aid in determining the available job vacancies. It is done by the United States Bureau of Labor Statistics and collects data every month from various employers such as retailers, manufacturers among others. JOLTS presents both qualitative and quantitative questions to the respondents about their employment, recruitments, job openings, etc. The data collected is then grouped into regions and industries and then published each month.
Back to: ECONOMIC ANALYSIS & MONETARY POLICY
How is the Job Openings and Labor Turnover Survey Used?
The data collected by JOLTS is essential in guiding the government in the development of economic policy using economic research and planning. This data can also be used to analyze the retention rate of the industry, business cycles as well as economic research that is specific to a particular industry. The JOLTS data has also been used together with the Help-Wanted Index, whose publication is done by the Conference Board, to provide an accurate reading of the current job-market efficiency.
Related Topics
- What is the US Labor Force?
- Out of the Labor Force
- Labor Force Participation Rate
- Establishment Payroll Survey
- Bureau of Labor Statistics
- Unemployment
- Underemployed
- Full Employment Equilibrium
- Okun's Law
- Issues with Measuring Unemployment
- Sticky Wage Theory (Economics)
- Implicit Contract Theory of Wages
- Efficient Wage Theory
- Adverse Selection of Wage Cuts Argument
- The Insider-Outsider Model
- Relative Wage Coordination Argument
- Natural Rate of Unemployment
- Frictional Unemployment
- Structural Unemployment
- Labor Productivity - Explained
- Okun's Law
- How does U.S. unemployment insurance work?
- National Average Wage Index
- Job Openings and Labor Turnover Survey
- Labor Surplus Area - Explained
- Lump of Labor Fallacy - Explained
- Bureau of Labor Statistics
- ADP National Employment Survey
- Labor Theory of Value - Explained
- Wage Elasticity of Labor Supply
