Job Opening Soar By 645,000 To All Time High 6.3 Million

Two months after the number of US job openings reported by the JOLTS dropped to a six month low amid a slowdown in hiring and quitting, all it took was one comprehensive data revision to set the seasonally-adjusted, statistically inferred US labor market back on track, and according to the latest JOLTS report, in January, the number of job openings soared from a downward revised 5.667 million to 6.312 million, a 645,000 increase, the second biggest monthly jump on record.

The job openings level increased for total private (+608,000) and edged up for government. The job openings rate increased to 4.1 percent in January. The number of job openings increased in professional and business services (+215,000), transportation, warehousing, and utilities (+113,000) construction (+101,000), and several other industries. The number of job openings increased in the South, Midwest, and West regions.

It wasn't just job openings that jumped: total hires rose as well, increasing from a revised 5.524 million in December to 5.583 million in January, the second highest on record after October's 5.609 million.  While the number of hires was little changed for total private, it rose for federal government (+10,000).

The other closely watched category, the level of quits - which indicates workers' confidence they can leverage their existing skills and find a better paying job - reversed last month's increase, and in January declined modestly from 3.340MM to 3.271MM, suggesting workers were feeling just a little less confident about demand for their job skills than the previous month. Quits increased in arts, entertainment, and recreation (+13,000) but decreased in professional and business services (-71,000). The number of quits decreased in the West region.

And with a total 5.4 million separations (a 3.7% rate), this means that there were 1.8 million layoffs and discharges in November, virtually unchanged from December. The layoffs and discharges rate was 1.2 percent in January, same as December.   The number of layoffs and discharges was little changed for total private and for government. The layoffs and discharges level increased in health care and social assistance (+52,000). Layoffs and discharges were little changed in all four regions.

Putting all this in in context

  • Job openings have increased since a low in July 2009. They returned to the prerecession level in March 2014 and surpassed the prerecession peak in August 2014. There were 6.3 million open jobs on the last business day of January 2018, a new series high.
  • Hires have increased since a low in June 2009 and have surpassed prerecession levels. In January 2018, there were 5.6 million hires.
  • Quits have increased since a low in September 2009 and have surpassed prerecession levels. In January 2018, there were 3.3 million quits.
  • For most of JOLTS history, the number of hires (measured throughout the month) has exceeded the number of job openings (measured only on the last business day of the month). Since January 2015, however, this relationship has reversed with job openings outnumbering hires in most months.
  • At the end of the most recent recession in June 2009, there were 1.2 million more hires throughout the month than there were job openings on the last business day of the month. In January 2018, there were 729,000 fewer hires than job openings.

Finally, and perhaps most notably, the Beveridge Curve (job openings rate vs unemployment rate), continues to gradually normalize after a nearly decade-long "drift" from its conventional pattern.  From the start of the most recent recession in December 2007 through the end of 2009, the series trended lower and further to the right as the job openings rate declined and the unemployment rate rose. In January 2018, the unemployment rate was 4.1 percent and the job openings rate was 4.1 percent.

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Comments

DipshitMiddleC… 11b40 Fri, 03/16/2018 - 11:25 Permalink

im technically a member of the tribe (i consider myself a cryptojew). im not related to any of the elders so i have to slug it out with the rest of you goyim

i keep very detailed statistics on my job search in a nice tidy spreadsheet with graphs and pivot tables and whatnot..30% of all the jobs i apply to are through staffing agencys and they are my best ones as far as response rates go. i get decline ALOT via direct applications to companies and i suspect it is because i list myself as a white male with no disabilities who isnt a vet

 

i am a big time Trump supporter but the obama years did this country in. there are opportunities if you're a dindu or a cunt

In reply to by 11b40

ProstoDoZiemi DipshitMiddleC… Fri, 03/16/2018 - 12:17 Permalink

I too keep notes of where and when and what not, the work I want to do I won't get called on even though I went to school for it.

On the other hand like you say I'll get called from the agencies with work but it's all mule work, I didn't have to go to school to do the work they're offering and low balling.

I once had suspicions as you did, I'm not sure

In reply to by DipshitMiddleC…

DipshitMiddleC… ProstoDoZiemi Fri, 03/16/2018 - 13:38 Permalink

yeah i turned down quite a few interviews w/ staffing firms because it was like 3 month contracts or a month-to-month rolling type of deal

 

i dont mind contracting but its gotta be atleast 6 months and these fuckers cant even offer that

 

i went to an interview like 2 years ago for a job at this big medical device company and didnt get it..now the same company wants to hire someone month to month to do the same work on a month to month contract..i turned that bish down

 

 

In reply to by ProstoDoZiemi

rejected ThinkerNotEmoter Fri, 03/16/2018 - 11:08 Permalink

Don't take this wrong and I realize there is much skill involved albeit different,,, but I always went for the more challenging stuff. I worked in the Steel industry from mining to production, worked on Lectrahauls to Locomotives, conveyor systems, to Overhead Cranes, Shakers, Screens, milling machines, etc. . A three year apprenticeship to become a journeyman. Much more satisfying TO ME then pulling wire and bending conduit. 

I thank God everyday for that opportunity that has all but disappeared today. Think I would commit suicide having to work at shit places like Walmart and convenience stores. 

Edit: I am in no way trying to diminish the IBEW/Retail electrical opportunities that used to exist.  Much knowledge used to be required like almost memorizing the NEC. Everyone to their own... yes? I was able to CHOOSE my work whereas today, not so much.  

So sad,,, as the emperor says. 

In reply to by ThinkerNotEmoter

ZeroSpam slopz38 Sat, 03/17/2018 - 23:54 Permalink

▲▲▲   Slopz38  ▲▲▲ CHRONIC SPAMMER  ▲▲▲ VIRUS ALERT ▲▲▲

THIS IS BUT ANOTHER LOG-ON FROM ZeroHedge's OBSESSIVE-COMPULSIVE WHACKED-OUT ZIT-FACED SPAMMER, here peddling links to ANOTHER spam page, ALSO LADEN WITH TROJANS AND VIRUSES.   DO NOT CLICK ON ANY LINK FROM THIS SPAMMER!!!

This chronic thread-hijacker and poster of "My last paycheck..." spam with Multiple Log-on's (aka "stizazz" and "pier" "beepbop"  "Braveforce"  "PRIVETHEDGE"  "SLOPZ38" -- hopefully banned) is a CHRONIC SPAMMER whose "disguised links" (under other log-on's) will take you to his Spam- and Trojan-laden webpages, fondly known by ZHers as "The Whacked Out Biblicism SPAM page" or "BIBLICISM GOES PORNO" where you will be the happy recipient of numerous virus from this very disturbed and obsessed individual, spamming here for more than five years.

ALL THIS SPAM IS FROM THE SAME SPAMMER!
•dailywesterner
•celebrity-leaks (porn)
•biblicism
•"I made $7000 last week ..... this is what I do"

END SPAM!

Copy and send this text to abuse@zerohedge.com

Please remove all postings and ban log-on from user "LLOLL" who chronically SPAM posts short-URL links to his virus- and trojan-filled website. This is the same individual posting chronically as  "STIZAZZ" "PRIVETHEDGE" and "PIER" "SLOPZ38"  "BRAVEFORCE"  "BEEPBOP", among dozens of other banned log-ons [that's YOU "dailywesterner" and "biblicisminstitute" and "celebrity-leaks" (porn) and "I made $7000 last week...."]. Thank you.

In reply to by slopz38

Sonny Brakes Bricker Fri, 03/16/2018 - 11:16 Permalink

If you're a 100% trained then: you're already working there, you already have a good job and seniority, or you own your own business.

I suffered the same thing once. The company wanted 10 years experience in de-watering for a construction site to replace a First Native person who had quit. It was a union job on Native land so Natives were first in line. After a week they let me go because the Native wanted his job back and also I wasn't down with the intimidation tactics. That's another thing, employers want to get away with intimidating workers. Fuck'em. 

BTW, people with 10 years de-watering experience don't make it to the 11th year. It's bull work, chasing ponds of water carrying heavy pumps on your back across construction sites being eaten alive by black flies in the rain because de-watering involves keeping grey water from entering into the river and destroying fish habitat. 10 years experience, right, you learn the job the day you show up and if you've got the physical strength the job gets done. I have that strength.

In reply to by Bricker

boattrash DipshitMiddleC… Fri, 03/16/2018 - 10:45 Permalink

Please post your cover sheet/list your skillz.

Tip:Don't "cool-up" your resume with the "z" thing.

Here's a good vid from Mike Rowe

Rowe: Why we never see protests at trade schools - YouTube

Edit; From DipshitMiddle's profile,

Biography

"Conspiracy theorist millenial, financial instruement trading, non-educated, no debt having data analyst by trade."

...enough said.

In reply to by DipshitMiddleC…

boattrash DipshitMiddleC… Fri, 03/16/2018 - 12:10 Permalink

I don't call my generation baby boomers, but rather prefer "cold war kids", as we really never expected to reach 30 yrs old. That said, I have said for decades, that I'd live to see the day that income levels for blue collar work would surpass white collar work. Turns out, I was correct.

It would appear that your statistical models for prediction and forecasting were a bit "off the mark" and you might not want to list that failure on you resume.

Stay angry kid, but channel it wisely. Oh yeah, as to the "parasite" thing...I pay enough taxes per year to keep at least 5 fucking basket-weaving millennials on the Govt tit.

In reply to by DipshitMiddleC…

boattrash DipshitMiddleC… Fri, 03/16/2018 - 13:58 Permalink

" you are literally the most kiked generation ever. you're a generation of shabbos goy"

Presumption is a dangerous thing. I'm nothing special, just a 6 figure wage earner (for many years now) that's not afraid of, or above the work, blood, and sweat required to be one. (merchant mariner)

Not too bad for a high school dropout...The same opportunities are there for you as well, not to mention the good, solid living wage you can make as you work your way up. Beware though, the overtones in your words, of "it's the fault of everybody else", will not bode well toward your success.

Stay angry kid, but channel it wisely.

In reply to by DipshitMiddleC…

Sonny Brakes DipshitMiddleC… Fri, 03/16/2018 - 11:05 Permalink

I can vouch for that. I have more than 20 years of work experience, I have a STEM college education, I am bilingual (French and English), I am a member of a union (LiUNA), I don't have any tattoos, I am not addicted to opioids, I am mobile and willing to move for a job, I am debt free, you get the picture. Oh, and I know how to code, as in Web Development, but I'm not a pro yet. I've worked in transportation and distribution; customer service; sales; and most recently, heavy construction. I'm also white, tall, with a full head of grey hair to match my age of 54.

The only job I was offered was 20K lower than I need and 2 weeks short of vacation than I want in my next job. The contract they wanted me to sign was full of legalese that I wasn't able to fully understand, but I knew enough to know that it was not something I was prepared to sign even if they had met my demands. I know that they were taken aback by my response to their offer. Fuck'em I say.

Jobs are first offered to friends and family, well, you know that and the jobs that are left are offered to the slaves on the plantation and if none of the slaves want to take them then they import foreigners with the help of government agencies and then they disparage tax paying citizens by saying that 'these are jobs Canadians won't do' and it's not true. Canadians won't do these jobs because they don't pay and offer nothing of value in return for taking the job. Ever try getting a reference from an employer. They just confirm that yes you once worked there from start date to end date. Employers imagine that candidates are in constant contact with their previous employers and that not the case.

I saw a bunch of jobs online and applied to them then the next day I drove over with my resume and introduced myself. I am qualified for at least one of these jobs. Crickets, so far.

In reply to by DipshitMiddleC…