US data preview: JOLTS to indicate sustained worker demand - Nomura

Ross J Burland FXStreet

Analysts at Nomura explained that the Job openings increased 65k to 6698k in April, marking the first time since JOLTS started in 2000 that vacancy postings outnumbered the unemployed (6346k in the same month).

Key Quotes:

"The quits rate remained at 2.3% during the month, its after-recession high, but below the 2.6% reading in January 2001."

"In addition, the layoff rate remained subdued at 1.2%, consistent with low reading of initial jobless claims."

"Taken all together, recent JOLTS data indicate sustained worker demand as the US economy continues to grow above potential."

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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