US JOLTS Job Openings

Gold prices have regained their footing following the release of U.S. Job Openings data, which revealed fewer openings than anticipated for July. According to the U.S. Bureau of Labor Statistics, the JOLTS Job Openings dropped to 7.673 million in July, down from a downwardly revised 7.91 million in June. This figure also came in below economists’ forecast of 8.1 million. The data suggests a tightening job market, potentially signaling a looming recession if corroborated by other negative employment indicators. The ...

The dollar index (DXY00) Wednesday fell by -0.48%. The dollar retreated Wednesday after the US July trade deficit widened by the most in 2 years. Lower T-note yields Wednesday also weighed on the dollar. Losses in the dollar accelerated after the US July JOLTS job openings fell more than expected to a 3-1/2 year low, a dovish factor for Fed policy. The dollar maintained moderate losses after the dovish Fed Beige Book was released. The US July trade deficit widened to -$78.8 billion from -$73.0 billion in June, the largest deficit in ...

The number of available jobs in the US shrank more than expected in July, an indication that demand for workers continues to wane amid a cooling labor market. Job openings fell in July for the second consecutive month to an estimated 7.67 million, from 7.91 million in June, according to new data released Wednesday by the Bureau of Labor Statistics. That’s the lowest number of openings since January 2021. Economists were expecting that the July postings would total 8.1 million, according to FactSet consensus estimates. Wednesday’s ...

Upcoming readouts on the US labor market, including the monthly payrolls report, will give Federal Reserve policymakers insight into the need for further interest-rate reductions after an all-but-certain cut in a little more than two weeks. With inflation slowing - although still running faster than the Fed’s goal - Chair Jerome Powell has telegraphed a September rate cut and said that officials “do not seek or welcome” further cooling in the labor market. Weeks earlier, government figures showed lower-than-expected July job growth ...

These are one of those times when one should look under the hood, read between the lines, look beneath the surface, take a few extra moments.... well, you get the idea... before interpreting a data release.... At first glance, the initial reaction was "What? U.S. consumer confidence rose?" and "What? Job openings are still over 8 million?" Intriguing, indeed. But revisions paint a different picture for these releases. 1) Consumer confidence rose. According to the Conference Board, the headline index climbed 2.5 pts in July to 100.3, ...

In another sign of economic weakness, the amount of “looking for greener pastures” job hopping is below pre-pandemic levels especially in key sectors, 5 charts. The BLS Job Openings and Labor Turnover report shows continued weakness in opening, hires and separations. chart Recent data is for May 2024 thus lags the payroll report by about a month. Job Openings • On the last business day of May, the number of job openings changed little at 8.1 million. This measure was down by 1.2 million over the year. • Job openings decreased in ...