⚠️CHART OF THE WEEK: Most of the US job openings data is simply made up
The response rate for the US job openings survey is just ~33%, near the lowest on record.
The response rate for the US job openings survey (JOLTS) has been around 33% over the last few months, near the lowest on record.
This means 67% of data is simply guesswork or made up.
Such a low response rate of firms has been a major reason behind massive downward revisions to job openings data over the last 2 years.
The Bureau of Labor Statistics data is far from ideal.
More about the US job market in the below analysis (update to that will be released early next week):
If you find it informative and helpful you may consider a paid subscription (or annual if subscribed), become a Founding Member, and follow me on Twitter or Nostr:
Why subscribe?
that's crazy. SHENANIGANS. so far, I just heard about massive discrepancies between establishment survey and household survey