Calculated Risk provides some additional details:
According to the JOLTS report, there were 4.96 million hires in February (SA), and 3.957 million total separations, or 4 thousand net jobs gained. The comparable CES report showed a loss of 14 thousand jobs in February (after revision).
Layoffs and discharges have declined sharply from early 2009 - and that is a good sign.However, hiring has not picked up - and even though total separations were at a series low, there were few jobs added in February (according to JOLTS). This low turnover rate is another indicator of a weak labor market.
Source: BLS
What happens if companies find out they can be just as productive with far less workers? We may find out.
ReplyDeleteUnemployment is the worst case, but these can be minimized through education to everyone. In India, Government has made compulsory education to the all the children's and i hope in future there are more job openings and everyone gets benefited.
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