04.16.2012 Policy Points

Job Openings In February 2012

From the Economic Policy Institute’s analysis of the February version of the Job Openings and Labor Turnover Survey (JOLTS) …

Though the February JOLTS report generally moved in the right direction, data on hires, quits, and layoffs shows that most of the levels are still very weak. One exception to that is layoffs:  After increasing dramatically from the start of the Great Recession through the spring of 2009, layoffs began to drop quickly and have actually been at pre-recession levels since the fall of 2010. However, hiring remains very depressed, currently 15.5 percent below its 2007 average. And given that hiring is so low, it is unsurprising that the number of voluntary quits … is also currently very depressed, now 27.6 percent below its 2007 average.

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