Yeah, to me the real question is the gap between their estimation from CPS and the layoffs data in JOLTS. I’ve been meaning to dig into that more deeply.

Would be very interested in any answers you come up with. One factor, I think, is that they count those who have come to the end of a temporary contract as a layoff. Seems like this is the grey area where job finding and layoffs overlap - and where the JOLTS are more informative.