A report from the US Department of Labor showed that the amount of job openings in the country held near a 13 year high alongside an increased rate of hiring.
According to data from the Labor Department’s monthly Job Openings and Labor Turnover Survey (JOLTS), the number of available jobs during the month of July was at a seasonally adjusted 4.673 million, slightly fewer than the 4.675 million of June.
The government report is commonly used to measure labor demand in the US market and is one of the indicators being monitored by the Federal Reserve as part of its deliberations for changes in its monetary policy which includes hikes in its interest rates. Central bank chair Janet Yellen has made it known during the past year that the slow growth of wages and the large number of workers involuntarily working part time is one of the Fed’s biggest concerns.
The report claimed that hiring in the US increased from the 4.791 million in June to the 4.872 million of July while the rate of people quitting jobs was stable at 1.8%. With the percentage of workers voluntarily leaving their positions at the highest level in more than six years, it may be an indicator of workers’ increased confidence that they would be able to find a better job.
Separate government statistics released last week showed that employers in the US added the least amount of jobs in the past several months during August at 142,000 to break an eight month streak where at least 200,000 new jobs were created. Unemployment fell to 6.1%, according to the report.
Economist Daniel Silver from JP Morgan said that, “While the recent improvement in the JOLTS data is nice, we should also note that other more timely labor market indicators have softened between July and August.”
The material has been provided by InstaForex Company – www.instaforex.com
A report from the US Department of Labor showed that the amount of job openings in the country held near a 13 year high alongside an increased rate of hiring.
According to data from the Labor Department’s monthly Job Openings and Labor Turnover Survey (JOLTS), the number of available jobs during the month of July was at a seasonally adjusted 4.673 million, slightly fewer than the 4.675 million of June.
The government report is commonly used to measure labor demand in the US market and is one of the indicators being monitored by the Federal Reserve as part of its deliberations for changes in its monetary policy which includes hikes in its interest rates. Central bank chair Janet Yellen has made it known during the past year that the slow growth of wages and the large number of workers involuntarily working part time is one of the Fed’s biggest concerns.
The report claimed that hiring in the US increased from the 4.791 million in June to the 4.872 million of July while the rate of people quitting jobs was stable at 1.8%. With the percentage of workers voluntarily leaving their positions at the highest level in more than six years, it may be an indicator of workers’ increased confidence that they would be able to find a better job.
Separate government statistics released last week showed that employers in the US added the least amount of jobs in the past several months during August at 142,000 to break an eight month streak where at least 200,000 new jobs were created. Unemployment fell to 6.1%, according to the report.
Economist Daniel Silver from JP Morgan said that, “While the recent improvement in the JOLTS data is nice, we should also note that other more timely labor market indicators have softened between July and August.”
The material has been provided by InstaForex Company – www.instaforex.com