U.S. Outlook: Signs of healing in the jobs market

Scott Anderson
Posted by Scott Anderson
Chief Economist

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.

Graph showing the movement upward in the number of job openings in U.S.Whether the indicators are strong enough to sway Yellen’s view of the employment outlook remains to be seen.

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.

Reminder: All comments are moderated prior to publication and must follow our Community Guidelines.

  • Anonymous says:

    I would agree with the ramping up in terms of the economy -but am greatly discouraged at the hiring pace. Within my own experience as a candidate, I’ve seen positions with companies go on hold for months or change in requirements after multiple face-to-faces. My point is – there is no rush by companies to fill these positions and the challenging part is to stay the course while going through the college funds of my children.

    Reply | 5 years ago
  • Anonymous says:

    I find your report to be very interesting considering I was laid off from BOW in July 2014.

    Reply | 5 years ago

Submit an Idea

[contact-form-7 id="32" title="Share An Idea"]

You are leaving the Bank of the West Change Matters site. Please be aware: The website you are about to enter is not operated by Bank of the West. Bank of the West does not endorse the content of this website and makes no warranty as to the accuracy of content or functionality of this website. The privacy and security policies of the site may differ from those practiced by Bank of the West. To proceed to this website, click OK, or hit Cancel to remain on the Bank of the West Change Matters site.