Why the JOLTS Report Matters to Janet Yellen

The video discusses the JOLTS survey, focusing on job openings and labor turnover. It highlights the importance of the quits rate as a leading economic indicator, showing its correlation with wage increases. The timeliness of JOLTS data is a concern, as it is delayed by two months. The video also breaks down job openings by industry, noting more openings in tech and fewer in manufacturing. It addresses flaws in job data due to flexible work and the gig economy, emphasizing the need for better measurement.

What are the implications of a decrease in job openings or quits rate for the Federal Reserve's decisions?

What challenges exist in measuring job openings and employment in the gig economy?