Forex glossary
Job Openings and Labor Turnover Survey (JOLTS)
The BLS survey of U.S. vacancies and employment flows. Eligible job openings are a stock on the month's last business day, while hires and separations are whole-month flows; a hire need not fill a previously reported opening.
Illustrative example
How does it work in practice?
At a hypothetical firm, 10 vacancies meet JOLTS criteria on the last business day of the month, while 8 hires occurred during the whole month. This is not 18 vacancies: the first measure is a point-in-time stock and the second a flow.
A case to work through
Open does not always mean counted
A fictional firm has work available, a start within 20 days and active external recruitment; another position is promotion-only.
- Check all three JOLTS conditions for the first position.
- Do not count the second merely because it is called open.
What follows? Separate openings from whole-month hires.
Example boundary: This simplifies individual-position classification.
JOLTS stocks and flows
Text description of the diagram
- Openings: Stock on the month's last business day.
- Hires: Payroll additions during the whole month.
- Comparison: Keep periods and definitions separate.
A useful distinction
Job Openings and Labor Turnover Survey (JOLTS) / Non-Farm Payrolls (NFP)
NFP counts payroll jobs; JOLTS surveys openings and employment flows.
Check your understanding
Check whether a position meets JOLTS opening criteria.
Show the answer and explanation
No, that position alone is excluded
Check the survey's formal conditions.
Different US labour measures
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Related terms
Sources and documentation
- Job Openings and Labor Turnover Technical Note – BLS
Defines openings stock, recruitment criteria and hiring flows.
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