Job Openings: Total Nonfarm (JTSJOL) is a data series reported in the Job Openings and Labor Turnover Survey (JOLTS) published by the U.S. Bureau of Labor Statistics (BLS). This data series represents the total number of nonfarm job openings in the United States on the last business day of the month. Nonfarm employment includes all jobs in the economy, except those in the agricultural sector, which tends to be seasonal and volatile.
The JTSJOL data series is a key indicator of labor demand and the health of the economy. A high number of job openings suggests strong demand for labor, which may lead to increased hiring, wage growth, and a tighter labor market. Conversely, a low number of job openings may indicate weak labor demand, potentially resulting in slower hiring, stagnant wages, and a looser labor market.
Economists, policymakers, and market participants use the JTSJOL data series, along with other components of the JOLTS report, to assess the labor market's strength and gauge the overall economic environment. The data can help inform monetary and fiscal policy decisions, as well as provide valuable insights for businesses and job seekers.