US: Signs of underlying labor market strength - Nomura
|Analysts at Nomura point out that in the US, JOLTS job openings declined 202k to 6638k in May, lowering the job openings rate 0.1pp to 4.3%, a still-high reading.
Key Quotes
“The decline was driven by professional & business services, health care and arts, entertainment and recreation service industries. The number of quits in May jumped sharply by 212k, raising the total quits rate to 2.4%, a new post-recession high.”
“The elevated quits rate is a key sign of underlying labor market strength as workers often feel emboldened to separate from their current employers in a tight labor market.”
“Overall, today’s JOLTS data are consistent with other labor market indicators, suggesting steady momentum going into Q3.”
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.