The Phaserl


The JOLT “Job Openings” Is A Joke

by Dave Kranzler, Inevstment Research Dynamics:

My colleague Rory Hall and I recorded a very engaging podcast interview with John Crudele, business columnist for the NY Post. He published an article today that exposes deep flaws in Bureau Of Labor Department’s JOLT job openings metric.

Are there really millions of job openings in the US economy today? I’ll get to the point: probably not nearly as many as the government contends. Tuesday morning the Labor Department is putting out its JOLTS report, which stands for Job Openings and Labor Turnover Survey. This survey doesn’t have as big a following as the monthly employment report that came out Friday, but JOLTS gives Wall Street hotshots something to trade off and gives TV commentators something to comment on.

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