DEFINITION of 'Job Openings and Labor Turnover Survey - JOLTS'
A survey done by the United States Bureau of Labor Statistics to help measure job vacancies. It collects data from employers including retailers, manufacturers and different offices each month. Respondents to the survey answer quantitative and qualitative questions about their businesses' employment, job openings, recruitment, hires and separations. The JOLTS data is published monthly and by region and industry.
BREAKING DOWN 'Job Openings and Labor Turnover Survey - JOLTS'
JOLTS data has many uses, not least of which is to help guide the government in formulation of economic policy through economic research and planning. The JOLTS publications provide data that can help in the analysis of industry retention rates, business cycles and industry-specific economic research. Also, JOLTS has been used in conjunction with the Help-Wanted Index, which is published by the Conference Board, for a more accurate reading of job-market efficiency in the country.