U.S. Outlook: Signs of healing in the jobs market
While employers are a bit slow in filling open positions, the latest employment data has been positive. The job market details on openings, layoffs, turnovers and separations are particularly important because they are often used by Fed Chairwoman Janet Yellen in speeches and testimony.
For more on this and other economic developments to watch, see highlights of my weekly economic analysis below, followed by a link to the full U.S. Outlook report, delivered on July 11, 2014.Key observations:
- The latest details on job openings, layoffs, and people quitting are positive signs of an improving employment picture.
- Layoffs are down 11.7% from a year ago, and are now at lower levels than seen during the 2001 to 2007 expansion.
- Hires have increased only 3.9% from a year ago — similar to the pace seen since 2011.
- Quits – a sign of a strengthening economy – are up 15% from a year ago.
Click here to read my full report.