US JOLTS Job Openings

The underlying dynamics of the labor market bounced back in October, according to the Job Openings and Labor Turnover Survey (JOLTS) from the Bureau of Labor Statistics today. The data continues to be muddled by the Boeing strike that lasted through October and ended in early November, and by three hurricanes – Francine in early September, Helene in late September through early October, and Milton in mid-October – whose heavy rains and flooding temporarily shut down work sites in a substantial part of the country. As we saw a month ...

Consumer confidence rebounded in October, but job vacancies surprisingly fell at a time when worker sentiment surrounding the jobs market is already weakening. If workers are increasingly concerned about job security this may run the risk that they start changing their spending behaviour, justifying ongoing gradual interest rate cuts from the Fed. Data surprises continue with sentiment rebounding while job vacancies fall sharply: Consumer confidence and the Job Openings and labour Turnover Statistics reports are the highlights for ...

Consumers grew more optimistic about the U.S. economy heading into the contentious presidential election even as job openings hit multi-year lows, according to separate reports released Tuesday. The Conference Board’s consumer confidence index for October rose more than 11% to a reading of 138, its biggest one-month acceleration since March 2021. Along with that, the board’s expectations index of future conditions jumped nearly 8%, to a reading of 89.1 that is well clear of the sub-80 level that indicates a recession. Economists ...

Welcome to what is without doubt the busiest two-week stretch of the year, starting with a barrage of earnings, payrolls, JOLTS, GDP, PCE and the Treasury refunding, and concluding with next week's presidential election. But first a look at the recent action, which as DB's Peter Sidorov wraps up, saw the festive mood that dominated this fall suffer a mini-scare last week, as the S&P 500 fell for the first time in six weeks while the bond sell-off continued apace. And there’ll be plenty to test the market nerves with this week's ...

One month after the "catastrophic" August JOLTS report presaged the ugly September jobs report, which in turn prompted the Fed to cut a "jumbo" 50bps and spooked markets that a recession was imminent, moments ago the BLS reported that in September (as a reminder, the Job Openings and Labor Turnover report lags the Payrolls report, which is due on Friday, by one month), job openings unexpectedly jumped by 329K from an upward revised 7.711 million in July (up from 7.673 million) to 8.040 million in August, smashing the median estimate ...