The U.S. Labor Office issued today, Tuesday, the job openings and labor turnover (JOLTS) data for May, which came in positive and higher than market expectations for the second consecutive month.
According to the data, job openings and labor turnover reached 7.77 million jobs by the end of May, which was higher than expectations that predicted approximately 7.32 million jobs, while the previous reading recorded 7.39 million jobs in April.
It is noteworthy that this data is released later in the month, but it can impact the market as the job openings index is a leading indicator for measuring overall employment rates, measuring the number of job openings during the month excluding the agricultural sector.
Job openings data provides additional information about the U.S. labor market, and it also offers insights into changes in net job numbers.
The labor market is also divided into changes in job openings, hiring, and separations. If the reading comes in above expectations, it positively affects the movements of the U.S. dollar, while if the reading is negative and below expectations, it negatively impacts the performance of the U.S. dollar against other currencies.
The U.S. Labor Office issued today, Tuesday, the job openings and labor turnover (JOLTS) data for May, which came in positive and higher than market expectations for the second consecutive month.
According to the data, job openings and labor turnover reached 7.77 million jobs by the end of May, which was higher than expectations that predicted approximately 7.32 million jobs, while the previous reading recorded 7.39 million jobs in April.
It is noteworthy that this data is released later in the month, but it can impact the market as the job openings index is a leading indicator for measuring overall employment rates, measuring the number of job openings during the month excluding the agricultural sector.
Job openings data provides additional information about the U.S. labor market, and it also offers insights into changes in net job numbers.
The labor market is also divided into changes in job openings, hiring, and separations. If the reading comes in above expectations, it positively affects the movements of the U.S. dollar, while if the reading is negative and below expectations, it negatively impacts the performance of the U.S. dollar against other currencies.
