According to the U.S. Bureau of Labor Statistics’ latest Job Openings and Labor Turnover Survey (JOLTS), in October 2014 there were 777,000 job openings in the Northeast region, which includes New York State. This was up 1.0% from September 2014’s level of 769,000. (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 1.7%, from 1.70 million in September 2014 to 1.68 million in October 2014.
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 October 2014, there were 2.2 job seekers per job opening in the Northeast region, unchanged from September 2014’s level. The region’s ratio stood at 3.1 in October 2013.
Nationally, the number of job openings increased by 3.2% and the number of unemployed decreased by 2.9% between September 2014 and October 2014. As a result, the ratio in the U.S. decreased from 2.0 to 1.9 over this period. In October 2013, the U.S. ratio was 2.8.
At the beginning of the last national recession in December 2007, the number of unemployed job seekers per job opening stood at 1.9 in the Northeast and 1.8 in the nation. By June 2009 -- the official end of the U.S. recession -- the ratio was 4.3 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
Thanks for the feedback! It will help us improve your experience.