🏦📊JOLTS Job Openings Remain In Line With Strong U.S. Labour Market: Cable FX Macro
- Rosbel Durán
- Nov 2, 2023
- 1 min read
September JOLTS job openings extended the trend from the prior month as we continue to see a rise in available jobs. The headline rose to 9553K, above the consensus median (August data topped estimates too). Financial activities and transportation saw strong numbers wile leisure and hospitality posted the largest increase since December
Of course this is backward looking, and we're set to receive the latest Non Farm Payrolls figure on Friday, but job openings remain in line with a strong labour market.
The dot plot below shows the relationship between JOLTS and the U.S. unemployment rate. The current level of job openings goes in line with a jobless rate below 4%. The Fed currently sees the unemployment rate rising to 4.1% by end of 2024, this would take a significant slowdown in the JOLTS data which we haven't seen yet
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