News Item

01.12.2016

Midwest Job Openings and Hiring Activity – November 2015

Today, the Bureau of Labor Statistics (BLS) released November 2015 figures from its Job Openings & Labor Turnover Survey (JOLTS), which tracks job openings, hires, and separations (quits, layoffs and discharges, and other separations including retirement).

The seasonally adjusted ratio of unemployed persons per job opening – an indication of labor market activity and competitiveness – increased to 1.4 candidates per job opening in the Midwest in November. However, this is still down considerably from a ratio of 1.7 a year ago and one of the lowest ratios in more than a decade. The U.S. ratio held steady at 1.5 in November.

JOLTS1

 

Midwest hiring activity decreased 2 percent year-over-year to 1.19 million new hires in November 2015, while national hiring activity increased 3 percent in the same time period.

The quit rate, which reflects the share of employees who left voluntarily (except retirements or transfers), is highly correlated with wage growth. Employees tend to quit and switch jobs at a higher rate during periods of economic growth. The Midwest’s November quit rate of 2.1 was up slightly from October’s rate of 2.0 and also up from a rate of 1.9 a year ago.

 

JOLTS2

This data reflects the most recent BLS revisions. The full press release and data can be found on the BLS website.

Chaired by Mayor Rahm Emanuel, World Business Chicago is the public-private partnership leading the Plan for Economic Growth and Jobs in order to drive business development, cultivate talent, and put Chicago at the forefront of the global economy.

WBC’s “Economic Briefs” track indicators from month to month to gauge the strength of several aspects of Chicago’s economy, including unemployment, population, venture capital, job openings and new hires, home sales, tourism, etc. This data provides a clear analytic framework for specific Plan strategies and initiatives. For a summary of these and other economic indicators, refer to WBC’s monthly Chicago By The Numbers.

Related News

NEWS

News Item

10.13.2022

Chicago Mayor Lori E. Lightfoot & World Business Chicago Announce the Inaugural Chicago Venture Summit Future-of-Food

More than 600 founders, Fortune 500 leaders, and investors are attending Chicago’s flagship food innovation conference hosted by World Business Chicago. CHICAGO, May 26, 2022 – Chicago Mayor Lori

View article

News Item

04.11.2022

World Business Chicago at SeedCon 2022

The Rattan L. Khosa SeedCon is Chicago Booth’s flagship entrepreneurship and venture capital conference. As the world seemed to stand still amidst the COVID-19 pandemic, investors, entrepreneurs, an

View article

News Item

04.11.2022

World Business Chicago Partners with Global Fintech Leader tastytrade for ThinkChicago Fintech Summit

“Innovation is the many years of study and analysis, which then finds itself in the path of an emerging opportunity” -Linwood Ma, tastytrade CTO World Business Chicago was proud to…

View article

News Item

03.30.2022

CBO Collective Announces $1 Million Grant from Google.org to Provide Job Placement and Support to Jobseekers from Under-Resourced Chicago Communities

CHICAGO — The Community Based Organization Collective today announced a $1 million grant from Google.org to help place hundreds of jobseekers on Chicago’s South and West sides into in-demand caree

View article
Translate »