US: JOLTS Job Openings rise to 11.033 million in October vs. 10.369 million expected

JOLTS Job-Openings rose back above 11M in October.
The DXY was unmoved by the data, which underscored the notion of a tight US labour market.

Joel Frank Independent Analyst

The number of job openings on the last business day of October jumped to 11.033 million, the US Bureau of Labor Statistics announced in its latest Job Openings and Labor Turnover Summary (JOLTS) on Wednesday. This reading came in above market expectations for 10.369 million and was sharply up from September's 10.602 million reading, which was revised up from 10.438 million.

Market Reaction

The DXY did not see any notable reaction to the latest JOLTs data. The data should underpin the Fed’s view that the labour market in the US is currently very tight. If Friday’s key US inflation report also comes in hot, this will support market expectations for the bank to agree on accelerating its QE taper when it meets next week.

Author

Joel Frank

Independent Analyst

Joel Frank is an economics graduate from the University of Birmingham and has worked as a full-time financial market analyst since 2018, specialising in the coverage of how developments in the global economy impact financial asset

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