August JOLTS Report

This report from the Bureau of Labor Statistics focuses on job openings, hires, quits, and terminations.  It is constructed from surveys with low response rates.  It is subject to adjustments and revisions and like all employment reports from the Bidementia/Harris administration, it has to be viewed with great skepticism–it is likely lies constructed for a political purpose.  This month’s report certainly fits the bill, as detailed in a Zero Hedge post.  The July report had shown an unexpected lowering in open jobs.  It was slightly revised up, but the number of openings in August jumped far above expectations.  As usual, when you look at the details, you start scratching your head.  Almost the entire increase was accounted for by construction jobs, at a time when housing starts are low and other indicators suggest no significant rise in the actual building of structures.  The increase in construction openings was the highest on record and there is a record divergence between the BLS report and other statistics on jobs.  And of course the rest of the job openings were in government jobs.  While openings surprised to the upside, hires actually declined.  Who knows what to believe.   (BLS Data)  (ZH Post)