"The BLS released the Jobs Openings and Labor Turnover Survey (JOLTS) for October on Wednesday. I am catching up today. At the March 2022 peak, there were 12,182,000 job openings vs an unemployment level of 5,993,000. There were nearly two openings per those unemployed. There are now 7,744,000 opening vs an unemployment level of 6,984,000. The unemployment level will soon top openings. Quits are voluntary separations. The number of quits is well below the pre-Covid level.The number of openings is suspect. Many positions are fake or stale. Others exist only if the exact right person comes along.In contrast, quits are relatively hard data (subject to BLS measurement), representing actions, not words. Quits are a measure of ability to find another job at better pay or benefits plus retirements."
