JOLTSJOLTS
JOLTS is the US Job Openings and Labor Turnover Survey from the Bureau of Labor Statistics. Each month it reports job openings, hires, quits, layoffs and other separations, giving a picture of how tight the labour market is.
The monthly jobs report says how many people were added to payrolls. JOLTS fills in the rest of the story: how many jobs are open, how many people were hired, and how many quit or were laid off. Those flows show whether employers are desperate for workers or pulling back — information the Fed and markets watch closely. This entry explains what JOLTS measures and how traders read it.
- Category
- Fundamentals and Macroeconomics
- Reading time
- 3 min
- Also called
- Job Openings and Labor Turnover Survey, Job openings report, JOLTS report
- Updated
JOLTS in plain words
JOLTS collects data on total employment, job openings, hires, quits, layoffs and discharges, and other separations.1
The job openings rate is an important measure of labour-market tightness, alongside unemployment measures.1
The BLS publishes national figures monthly and also produces state-level estimates.2
How to read a JOLTS release, step by step
Job openings
Unfilled positions on the last business day of the month.
Hires
New workers added during the month.
Quits
Voluntary departures — a confidence signal.
Layoffs
Involuntary separations — a stress signal.
Compare with expectations
Surprises move markets. See Economic Calendar.
Read with payrolls
Combine with the jobs report. See Nonfarm Payrolls.
Worked examples
Example 1 — Openings per unemployed worker
Tight marketJob openings are 7.2 million and there are 6.0 million unemployed people.
| Openings per unemployed | 7.2 ÷ 6.0 = 1.2 |
More openings than jobseekers points to a tight labour market, which the openings rate is designed to show.1
Example 2 — Reading quits and layoffs
Stable turnoverA release shows hires 5.4 million, total separations 5.3 million, quits 3.4 million, layoffs 1.6 million.
| Hires − separations | 5.4m − 5.3m = +0.1m |
| Quits share of separations | 3.4 ÷ 5.3 ≈ 64% |
Figures like these, from a recent BLS release, show hires and separations little changed and quits rising.2
Example 3 — Year-over-year drop
Cooling demandOpenings fall to 7.1 million, down 885,000 from a year earlier.
| Year-earlier level | 7.1m + 0.885m ≈ 7.985m |
| Change | ≈ −11% |
BLS reported 7.1 million openings in November 2025, down 885,000 over the year — a cooling labour market.2
JOLTS vs the monthly jobs report
| Aspect | JOLTS | Jobs report |
|---|---|---|
| Measures | Openings and worker flows | Net payroll change, unemployment |
| Timing | About a month later | First Friday of the month |
| Key signal | Demand for workers | Employment level |
| See also | Quits rate | Nonfarm Payrolls |
How traders use JOLTS
Fed outlook
Tight labour markets can keep rates higher. See Federal Reserve.
Wage pressure
Many openings can push pay up. See Average Hourly Earnings.
Recession signals
Falling openings and rising layoffs warn of slowdown. See Recession.
Bond and dollar moves
Surprises shift yields and currencies. See Treasury Bills, Notes and Bonds.
Advantages and disadvantages
Advantages
- Shows labour demand directly.
- Separates quits from layoffs.
- Official, consistent data series.
Disadvantages
- Released with a delay.
- Revised after first release.
- Survey response rates affect accuracy.
Going deeper
Read as far as you need. Each level builds on the one before it.
Who is surveyed
Beginner
BLS collects JOLTS data from a sample of about 21,000 US business establishments across all non-agricultural industries.1
Reference periods
Intermediate
Job openings are measured on the last business day of the month, while hires and separations cover the whole month.1
The quits signal
Advanced
Workers quit more when they are confident of finding another job, so a rising quits rate often precedes faster wage growth. See Macroeconomics.
Common mistakes
Treating it as real-time
It refers to the month before last.
Ignoring revisions
Earlier months can change.
Reading openings alone
Look at hires, quits and layoffs too.
Confusing it with payrolls
JOLTS measures flows, not net jobs.
Check your understanding
Test yourself before moving on. Each answer comes with an explanation.
Key points to remember
- JOLTS is the BLS survey of job openings and turnover.
- It reports openings, hires, quits and layoffs.
- The openings rate measures labour-market tightness.
- It comes out monthly with a delay.
- Markets read it for Fed and wage signals.
Frequently asked questions
When is JOLTS released?
What does a high quits rate mean?
Does JOLTS move markets?
Further learning
- Nonfarm Payrolls
The headline jobs report.
- Average Hourly Earnings
Wage growth data.
- Economic Calendar
When releases come out.
- Federal Reserve
Why labour data moves rates.
Sources
This article is written in our own words. The sources below support the specific facts, rules and figures marked with a number in the text. Links open the original publisher’s page.
- U.S. Bureau of Labor Statistics. JOLTS Overview (opens in a new tab) Checked .
- U.S. Bureau of Labor Statistics. Job Openings and Labor Turnover Survey (JOLTS) (opens in a new tab) Checked .
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