The sharp increase in job openings in October reaffirmed our call that the weaknesses of recent months were short-lived. Most of the gains in vacancies came from the South, which was hit by Hurricane Milton. Total job openings in October rose to 7.74 million from 7.37 million, the Bureau of Labor ... READ MORE >
JOLTS
Consumer confidence strengthens despite cooling labor demand
The drop in job openings and the rebound in consumer confidence are consistent with a soft-landing scenario, which we believe has been the reality in recent months. While the lower number of job vacancies signaled reduced demand pressure in September, hirings improved while job quits continued to ... READ MORE >
Manufacturing and labor markets give mixed signals amid Fed’s pivot
The mixed signals from data on job openings and the ISM manufacturing index, both released on Tuesday, offer a nuanced picture of the economy as the Federal Reserve transitions to a period to lower rates. During the transition of interest rates, not everything will go in the same direction. Elevated ... READ MORE >
Job openings fall amid imminent rate cuts
With job openings falling back to normal and the labor supply increasing, the labor market was in balance in July, an important reason for why the Federal Reserve in our view should have cut its policy rate in July. The drop in job openings explained part of why job gains were unexpectedly low in July. ... READ MORE >
Job openings rise as the labor market marches toward normalization
Labor demand remained strong in May, bolstering hirings during the month, the Bureau of Labor Statistics reported on Tuesday. Job openings edged up unexpectedly to 8.14 million from a downwardly revised 7.92 million in April. The increase in job openings is in line with our forecast for another strong ... READ MORE >
June jobs report preview: Beveridge curve implies a balanced labor market as hiring cools
The labor market and inflation have finally come into balance. As Mary Daly, president of the Federal Reserve Bank of San Francisco, said recently, the inflection point where unemployment risks could trump inflation risks “is getting nearer.” Now, the risk is that as the economy cools, hiring will slow ... READ MORE >
Job openings fall to a three-year low as manufacturing softens
Job openings in March plunged to 8.49 million, the lowest level in three years, according to the Bureau of Labor Statistics on Wednesday. The drop was in line with our forecast that pointed to a cooling labor market where the imbalance between labor demand and supply is narrowing. Our two preferred ... READ MORE >
Job openings inch up in February
Job openings edged higher in February, suggesting that the jobs report for March will show continued strong gains when it is released on Friday. Openings rose by 8,000 to 8.756 million in September, slightly higher than forecasted, according to data from the Bureau of Labor Statistics released on ... READ MORE >
Job openings inch down as economy stays on track for a soft landing
While the job openings data released on Wednesday continued to show a tight labor market in January, it remained on a downward trend toward normalization. Job openings cooled in back-to-back months to 8.86 million in January with December's figure revised down to 8.89 million from 9.03 million ... READ MORE >
Strong job openings and consumer confidence point to robust employment gains
December's strong data on job openings and consumer confidence released on Tuesday foreshadowed another robust month of job gains in January, aligning with our above-consensus estimate for net payroll increases when the employment report is released on Friday. Job openings in the United States inched ... READ MORE >