The JOLTS report is a more detailed look at the labor market than either payrolls or jobless claims, breaking the overall payrolls number, with a one month delay, into job openings, actual hires, voluntary quits, and layoffs and other discharges. The drawback of this series is that it only started in 2000, so the number of prior business cycles we can compare = 1. So we have to take its message with lots of grains of salt.
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