According to the U.S. Bureau of Labor Statistics’ latest Job Openings and Labor Turnover Survey (JOLTS), in January 2015 there were 841,000 job openings in the Northeast region, which includes New York State. This was up 2.9% from December 2014’s level of 817,000. (Note: JOLTS data are available nationally and regionally, but not at the state level.) At the same time, the number of unemployed in the Northeast region decreased by 0.5%, from 1.59 million in December 2014 to 1.58 million in January 2015.
The ratio of unemployed job seekers to job openings is a useful labor market indicator. It is calculated by dividing the number of unemployed workers by the number of job openings. In January 2015, there were 1.9 job seekers per job opening in the Northeast region, unchanged from December 2014’s level. The region’s ratio stood at 3.0 in January 2014.
Nationally, the number of job openings increased by 2.5% and the number of unemployed increased by 3.3% between December 2014 and January 2015. As a result, the ratio in the U.S. held constant at 1.8 over this period. In January 2014, the U.S. ratio was 2.6.
At the beginning of the last national recession in December 2007, the number of unemployed job seekers per job opening stood at 2.0 in the Northeast and 1.8 in the nation. By June 2009 -- the official end of the U.S. recession -- the ratio was 4.4 in the Northeast region and 6.2 in the nation as a whole.
The Job Openings and Labor Turnover Survey (JOLTS) program produces data on job openings, hires, and separations:http://www.bls.gov/jlt/
Unemployment data comes from the U.S. Bureau of Labor Statistics' Local Area Unemployment Statistics (LAUS) program:http://www.bls.gov/bls/unemployment.htm
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