U.S. | Job Market Improving | Quits increase and the number of unemployed per job opening falls

“Quits tend to rise when there is a perception that jobs are available and tend to fall when there is a perception that jobs are scarce” writes BLS. The good news, they are rising. Moreover,  the number of unemployed persons per job opening is decreasing.

• The number of quits has exceeded the number of layoffs and discharges for most of the 11-year JOLTS history. During the latest recession, this relationship changed as layoffs and discharges outnumbered quits from November 2008 through January 2010.
• In December 2011, there were 1.9 million quits, still well below the 2.8 million quits in December 2007, the first month of the recession.
• The number of layoffs and discharges for total nonfarm was 1.6 million in December, down from a peak of 2.5 million in February 2009, and below the 1.8 million layoffs and discharges at the start of the recession in December 2007.
• The number of job openings declined to a series low in July 2009, one month after the official end of the recent recession. Employment continued to decline after the end of the recession, reaching a low point in February 2010.
• In December 2011, there were 3.4 million job openings, which was 60 percent higher than the series low  in July 2009. The level was still well below the 4.8 million openings at the peak in March 2007.
• The ratio between the unemployment level and job openings level changes over time.
• When the most recent recession began (December 2007), the number of unemployed persons per job opening was 1.8. When the recession ended (June 2009), there were 6.1 unemployed persons per job opening.
• The unemployed persons per job opening ratio has trended downward since the end of the recession and was 3.9 in December 20.

Source: BLS

Source: bls.gov

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Source: BLS

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