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The JOLTS report is closely monitored in government halls.
Gary Cohn, the former director of the National Economic Council, called JOLTS, "the only report that everyone in Washington, the geek world, hangs on". He made these remarks during an interview with the radio Freakonomics.
Federal Reserve officials would also use the report as an indicator of tighter labor market conditions, which is essential in the formulation of monetary policy and the determination of interest rates.
The survey once again showed a considerably greater number of openings compared to the available workforce, a sign of a tightening of the market. A previous BLS report indicated that 6.5 million Americans had qualified for unemployment in January, the most recent month for which data were available.
Opportunities increased in government jobs, with 59,000 positions available Wholesale trade also recorded a gain of 91,000, real estate and leasing increased by 60,000 and information by 42,000. areas where there were fewer openings were "other services" with a drop of 98,000, retail trade with a loss of 97,000, and entertainment and arts activities with 40,000.
The "abandonment rate", or measure of the number of workers who voluntarily left their jobs, remained unchanged at 2.3% of the labor force, although it dropped from about 3.4 million in December to nearly 3.5 million. This rate is considered a key measure of worker confidence.
In addition to the increase in openings, the BLS review of previous data showed that there were still more vacancies than we thought in 2018. The year was closed with 7, 48 million open positions. reading in December revised upward by 144,000.
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