One way to measure how an economy performs is to see the number of jobs created. The trouble is, we track jobs in so many different ways it’s challenging to know what report is more important than the next.
There are weekly reports and monthly reports. And most reports are compiled by the Bureau of Labor Statistics (BLS), a research arm of the Department of Labor.
On the first Friday of every month, the BLS publishes the most well-known jobs report, the Employment Situation Summary. The BLS also publishes the JOLTS (Job Openings and Labor Turnover) report and compiles a weekly report on jobless claims.
The BLS measures the jobs market from all sides. It publishes the total number of job openings and reports on wage and benefits costs each month.
Meanwhile, Wall Street’s roving eye will sometimes pay more attention to one report over the next.
My team works with professionals who review each report and sift through the data to find the most compelling information. So if you see a job report that’s a bit confusing, give our office a call. We can help you sort it out.