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Data from the Bureau of Labor Statistics Job Openings and Labor Turnover Survey (JOLTS) trended upward in 2014. Job openings rose to their highest monthly value since the series began in 2000, and the average job opening level rose 17.0 percent. Hires increased for the fifth year in a row, growing by 8.1 percent in 2014. Total separations grew as well. It is important to note that voluntary quits increased by 10.4 percent, contributing more to the increase in total separations than involuntary layoffs and discharges, which increased by 2.7 percent. Although a sharp increase in layoffs and discharges is indicative of an economic contraction, layoffs and discharges may grow slightly during times of economic growth. The larger gains in job openings, hires, and quits suggest an improvement in the labor market.

Job openings reach a new high, hires and quits also increase