Help-Wanted Index (HWI)
Definition of 'Help-Wanted Index (HWI)'
The HWI is published monthly by the Bureau of Labor Statistics (BLS). The BLS defines a job opening as a position that is vacant and actively being recruited for. The BLS also defines an unemployed person as someone who is not working and is actively looking for work.
The HWI can be used to track the health of the labor market. A high HWI indicates that there is a lot of demand for workers and that businesses are expanding. A low HWI indicates that there is not much demand for workers and that businesses are shrinking.
The HWI can also be used to forecast future economic growth. A high HWI suggests that the economy is likely to grow in the future, as businesses will need to hire more workers to meet the demand for their products and services. A low HWI suggests that the economy is likely to slow down in the future, as businesses will not need to hire as many workers.
The HWI is a valuable tool for economists and businesses alike. It can be used to track the health of the labor market and to forecast future economic growth.
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