Turnover Data Shows That It's Not Layoffs, It's The Economy, Stupid
The Job Openings & Labor Turnover Survey from the Bureau of Labor Statistics came out yesterday for the month of November, and the results are more of the same: 2.4 million job openings in the country, basically half what it was at the most recent peak in June 2007.
The hires rate remained unchanged in November at 3.2 percent, essentially unchanged since February 2009.
What does this mean? The Heritage Foundation analyzes the numbers.
In the last quarter of 2007—the last quarter before the recession—employers laid off or discharged an average of 1.9
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