Today, the Bureau of Labor Statistics (BLS) released December 2016 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 – was at 1.3 candidates per job opening in the Midwest in December. The ratio is the same as the previous month and down from 1.5 a year ago. The U.S. ratio was 1.4 in December, which is up slightly from 1.3 a month ago and down from 1.5 a year ago.
The Midwest reported 1.16 million new hires in December 2016, a 7% percent decrease year-over-year. Nationally, hiring activity decreased by 2.8% percent in the same time period.
World Business Chicago is a public-private, non-profit partnership that drives inclusive economic growth and job creation, supports business, and promotes Chicago as a leading global city.
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, 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.
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