Job Openings and Labor Turnover Survey - Explained
What is the Job Openings and Labor Turnover Survey?
Written by J. Mance Gordon
Updated at April 23rd, 2024
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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.
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.
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