July 31, 2002 (The Editor’s Desk is updated each business day.)
New job openings and labor turnover survey
New data on job openings and labor turnover were introduced this week by the Bureau of Labor Statistics. Job openings are a measure of unmet labor demand and can be compared with unemployment, which measures unused labor supply.
[Chart data—TXT]
The number and rate of job openings in May 2002 were substantially lower than a year earlier. On the last business day of May 2002, there were 3.5 million job openings, 2.6 percent of the number of total filled and unfilled positions (employment plus job openings) in the United States. This was down significantly from 4.3 million openings, or a job openings rate of 3.2 percent, in May 2001. Over the same period, the total U.S. unemployment rate (not seasonally adjusted) rose to 5.5 percent from 4.1 percent a year earlier.
These data are a product of the Job Openings and Labor Turnover
Survey. Job openings refer to the number on the last business day of the month. Also, these data are not seasonally adjusted. Find additional information in "New Monthly Data Series on Job Openings and Labor Turnover Announced by
BLS," USDL 02-412.
Of interest
Spotlight on Statistics: National Hispanic Heritage Month
In this Spotlight, we take a look at the Hispanic labor force—including labor force participation, employment and unemployment, educational attainment, geographic location, country of birth, earnings, consumer expenditures, time use, workplace injuries, and employment projections.
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