Academic journal article Monthly Labor Review

The August Review

Academic journal article Monthly Labor Review

The August Review

Article excerpt

This issue of the Review kicks off with the 2011 installment from the Bureau's Job Openings and Labor Turnover Survey (JOLTS) program. BLS economists Katherine Bauer Klemmer and Robert Lazaneo examine JOLTS data to take a close look at how job openings, hires, and separations have fared since the 2007-2009 recessionary period through the end of 2010. Job openings, which can be considered an indicator of labor demand, increased modestly during the period after reaching a series low in July 2009. Hires, which can be thought of as a measure of worker flows, followed the same pattern and increased modestly through the end of 2010 after reaching a series low in October 2009. Separations, also thought of as a measure of worker flows, decreased slightly. The author's examination of these data provides insights into how employers react to changes in the business cycle and, arguably, affords additional evidence of the importance of data from the JOLTS program as business cycle indicators.

Another source of information on employer behaviors during business cycle changes is the Bureau's Business Employment Dynamics (BED) program. BED data measure gross job gains resulting from opening and expanding private sector business establishments and gross job losses resulting from closing and contracting establishments. …

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