What is the Job Openings?
The Job Openings and Labor Turnover Survey (JOLTS) from the Bureau of Labor Statistics measures how many job positions employers are actively trying to fill at any given time. It provides the demand side of the labor market picture — the supply of available workers is measured by the unemployment rate, while JOLTS measures the demand for workers by businesses.
A high level of job openings indicates strong employer demand for labor, typically reflecting a healthy economy where businesses are confident enough to expand. When job openings fall, it signals that employer confidence is declining and businesses are pulling back from hiring plans. The JOLTS report gained significant prominence after Federal Reserve Chair Jay Powell began using the ratio of job openings to unemployed workers (the "jobs-workers gap") as a key measure of labor market tightness during the post-COVID inflation surge.
How We Color-Code the Job Openings
Our heatmap colors each indicator based on historically significant thresholds:
Above 9M
Very high openings — extreme employer demand, extremely tight labor market
7M – 9M
High openings — strong employer demand, healthy labor market
5M – 7M
Moderate openings — balanced labor market conditions
4M – 5M
Low openings — employer demand weakening, labor market loosening
Below 4M
Very few openings — severely weak employer demand, recession conditions
Historical Extremes — What Happened Next?
When this indicator reaches extreme levels, history shows consistent patterns:
12.3M
The highest job openings ever recorded — nearly 2 openings for every unemployed worker. This unprecedented labor tightness drove wage growth to 40-year highs and contributed to the inflation surge.
4.6M
Job openings collapsed as COVID shutdowns eliminated employer demand for new workers — quickly reversed as the economy reopened.
Openings passed 5M for first time
Job openings recovering to pre-crisis levels was a key signal that the post-2008 labor market was finally healing — confirmed the eventual unemployment decline.
Investor Checklist — Current Reading
Based on the current Job Openings reading of 7.3M (Positive):
✓Strong job openings — healthy employer demand, good economic foundation
✓Maintain equity exposure — strong hiring demand supports economic expansion
Frequently Asked Questions
What is the "jobs-workers gap" that the Fed watches?
The jobs-workers gap = Job Openings - Unemployed Workers. When openings (11.9M at peak) vastly exceed unemployed workers (5.7M), each available worker has multiple opportunities — creating extreme wage bargaining power. Fed Chair Powell referenced this gap frequently in 2022-2023 as a measure of labor market imbalance that was contributing to wage inflation.
How is JOLTS different from the monthly jobs report?
The monthly NFP report measures how many jobs were actually added or lost. JOLTS measures the demand for workers (openings) and the flow of workers (hires, separations, quits, layoffs). JOLTS reveals the underlying dynamics: a month with +200K net jobs could reflect +5M hires and +4.8M separations, or +2.5M hires and +2.3M separations — very different labor market activity levels.
Why is JOLTS released on a delay compared to the jobs report?
The BLS releases JOLTS data approximately 5-6 weeks after the reference month — typically one month after the jobs report for the same period. This delay means investors often already know the headline job creation number before seeing the underlying JOLTS data that explains the labor market dynamics behind it.
What level of job openings is considered "normal"?
Pre-COVID, approximately 5-6 million job openings was considered a healthy, tight labor market. The surge to nearly 12 million in 2022 was historically unprecedented. As of 2025-2026, openings near 7-8 million reflect a still-healthy but normalizing labor market from post-COVID extremes.
How do JOLTS job openings compare to the number of unemployed workers, and why does the ratio matter?
The ratio of job openings to unemployed workers (tracked separately on this site as Jobs per Job Seeker) is one of the Fed's preferred measures of labor market tightness. A ratio above 1.0 means there are more openings than people looking — a tight labor market that puts upward pressure on wages and inflation. A ratio below 1.0 signals slack. JOLTS openings are the numerator of this ratio and are therefore central to understanding whether the labor market is adding to or subtracting from inflation pressure.
What investors are searching about this indicator right now, answered using current news and data.
1What is the current JOLTS job openings reading?
Job openings in the US decreased by 178,000 to 7.359 million in June 2026, below market expectations of 7.40 million.
2How have job openings been trending recently?
JOLTs Job Openings has declined for 3 consecutive months. The number of job openings decreased in healthcare (-147,000), leisure and hospitality (-86,000), wholesale trade (-74,000), and business services (-71,000).
3What is expected when the next JOLTS report is released?
July's data is likely to reflect similar conditions, and expectations are for a modest drop in the job openings measure. The U.S. will release its July report focusing on job openings and turnover.
4How does the labor market look overall based on the latest data?
The number of open jobs fell to 7.4 million, but overall the report showed a stable job market. Hires were unchanged at 5.3 million, while total separations changed little at 5.4 million. Within separations, quits (3.2 million) and layoffs and discharges (1.8 million) were unchanged.
5Why is JOLTS important for investors?
Labor-market data shapes consumer-spending forecasts and is closely tracked by central banks assessing the output gap and wage-inflation pass-through. Wall Street will get several important updates this week about the health of the U.S. jobs market. On Tuesday, the U.S. will release its July report focusing on job openings and turnover. It provides details on job openings within specific industries and areas of the economy.