JOLTS stands for “Job Openings and Labor Turnover Survey.” It is an economic survey conducted by the U.S. Department of Labor. This survey provides data on job openings in the labor market, including job openings, labor turnover, and more.
JOLTS Job Openings measure the number of job positions that are available but have not yet been filled by workers. It provides essential information to the economy, employers, and various stakeholders to understand the labor market’s conditions, job turnover rates, and job demand in the United States.
The significance of JOLTS Job Openings is to offer a more comprehensive picture of the labor market beyond the regular unemployment rate data. It helps in understanding how open the job market is for new employment opportunities, which can impact the overall economy and business decisions.
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