The Bureau of Labor Statistics (BLS) recently released February 2015 figures from its Job Openings & Labor Turnover Survey (JOLTS), which tracks job openings, hires, and separations (quits, layoffs and discharges, and other separations including retirement).
The seasonally adjusted ratio of unemployed persons per job opening – an indication of labor market activity and competitiveness – decreased to its lowest level since June 2001, with 1.4 candidates per job opening in the Midwest in February. The U.S. ratio also decreased slightly from 1.8 in January to 1.7 in February.
This data reflects the most recent BLS revisions. For more information about revisions to JOLTS data, please visit the BLS website.
Midwest hiring activity increased to 1.19 million new hires in February 2015 from 1.18 in January. Across the U.S., hiring activity decreased slightly from 4.99 in January to 4.92 in February.
The full press release and data can be found on the BLS website.
Chaired by Mayor Rahm Emanuel, World Business Chicago is the public-private partnership leading the Plan for Economic Growth and Jobs in order to drive business development, cultivate talent, and put Chicago at the forefront of the global economy.
WBC’s “Economic Briefs” track indicators from month to month to gauge the strength of several aspects of Chicago’s economy, including unemployment, population, venture capital, job openings and new hires, home sales, tourism, etc. This data provides a clear analytic framework for specific Plan strategies and initiatives. For a summary of these and other economic indicators, refer to WBC’s monthly Chicago By The Numbers.