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The Job Opening and Labor Turnover Survey: What Initial Data Show

Kelly A. Clark


Data on job openings and labor turnover are useful in understanding the U.S. labor market, the business cycle, and the economy in general. The Bureau of Labor Statistics (BLS) began publishing such estimates in July 2002. These data include a measure of unmet labor demand, which complements the broadest measure of excess labor supply, the unemployment rate, and yields a more complete picture of the labor market. Hires and separations, measures of labor turnover, track labor markey movements over the course of the business cycle and allow individual businesses to compare their own turnover rates with the national rates.