What is it?
The number of job openings in thousands in the country on the last day of the month (seasonally adjusted) as defined by the Bureau of Labor Statistics (BLS). The job openings rate is number of job openings divided by the total employment plus job openings. i.e. if there are 10 job openings and 90 employees then the job opening rate = 10/(90+10) = 10%.
Who is interested?
Analysts, Higher level executives, Human Resources, owner operators
What does it tell me?
The Job Openings level and rate help measure labor demand. The absolute level is useful in looking at over time values to see how the labor market is creating new jobs. The job opening rate gives perspective as it relates to the total workforce. 3% job opening rate is considered normal or healthy. Job openings are useful when compared to hires information.
Example: A user wants to understand the job openings level for non-farm jobs. They would enter: JOPL.NFRM