SPY & JOLTS Job Openings
The total number of job openings across the U.S. nonfarm economy, measuring unfilled positions that employers are actively recruiting for.
SPY Price
JOLTS Job Openings
Total nonfarm job openings with 3-month MA
What It Measures
JOLTS (Job Openings and Labor Turnover Survey) Job Openings measures the total number of unfilled positions that meet the following criteria: - A specific position exists and work is available - The job could start within 30 days - The employer is actively recruiting from outside the establishment The BLS surveys approximately 21,000 business and government establishments monthly. Job openings reflect labor demand and employers' willingness to hire.
Why It Matters
**Labor Market Slack Indicator**: The ratio of job openings to unemployed workers (the "Beveridge Curve") shows how tight the labor market is. More openings than unemployed workers signals extreme tightness. **Fed Policy Signal**: The Federal Reserve closely watches job openings as an indicator of labor market conditions and potential wage pressures. **Leading Indicator**: Job openings often decline before actual layoffs increase, making it a leading indicator of labor market weakness. **Wage Pressure Gauge**: High job openings relative to available workers typically lead to wage increases as employers compete for talent.
Key Levels
Data Sources
SPY: S&P 500 ETF daily OHLCV data (1993-02-02 to 2026-02-13)
Job Openings: JTSJOL - JOLTS Job Openings from U.S. Bureau of Labor Statistics
Units: , ,