1
1
0
We're seeing the stock market dip on economic news to include the JOLTS report where the expectations were for improved numbers.
The JOLTS report released today indicates that job openings in July remained stable at approximately 8.1 million. However, there are notable concerns regarding the labor market's health, particularly the ratio of job openings to unemployed individuals, which is expected to decline to its lowest level in over three years. This suggests a potential weakening in labor demand, despite the stable job openings figure[1].
Key components of the report include:
- **Job Openings**: Approximately 8.1 million, indicating a steady labor demand.
- **Quits Rate**: This metric, which reflects workers' willingness to leave their jobs for better opportunities, will be closely monitored for signs of labor market confidence.
- **Hiring Rate**: The hiring rate is also a critical indicator, as it shows how many people are being added to payrolls and reflects businesses' responses to economic conditions.
Overall, while job openings appear stable, the details surrounding the quits rate and hiring rate could reveal vulnerabilities in the labor market[1].
Citations:
[1] https://www.forexlive.com/centralbank/us-data-due-wednesday-jolts-report-a-fed-go-to-measure-of-labour-market-health-20240904/
[2] https://finance.yahoo.com/video/jolts-report-us-headed-toward-150646142.html?_guc_consent_skip= [login to see]
[3] https://www.bls.gov/jlt/news.htm
[4] https://www.fxstreet.com/economic-calendar/event/9ba65d91-c2d2-4e4b-b6f3-dfe3677dc980
[5] https://www.investing.com/economic-calendar/jolts-job-openings-1057
[6] https://www.cnbc.com/2024/01/03/jolts-november-2023-job-openings-nudged-lower-down-to-1point4-per-available-worker.html
[7] https://www.bls.gov/jlt/
[8] https://www.advisorperspectives.com/dshort/updates/2024/07/30/job-openings-jolts-june-2024
The JOLTS report released today indicates that job openings in July remained stable at approximately 8.1 million. However, there are notable concerns regarding the labor market's health, particularly the ratio of job openings to unemployed individuals, which is expected to decline to its lowest level in over three years. This suggests a potential weakening in labor demand, despite the stable job openings figure[1].
Key components of the report include:
- **Job Openings**: Approximately 8.1 million, indicating a steady labor demand.
- **Quits Rate**: This metric, which reflects workers' willingness to leave their jobs for better opportunities, will be closely monitored for signs of labor market confidence.
- **Hiring Rate**: The hiring rate is also a critical indicator, as it shows how many people are being added to payrolls and reflects businesses' responses to economic conditions.
Overall, while job openings appear stable, the details surrounding the quits rate and hiring rate could reveal vulnerabilities in the labor market[1].
Citations:
[1] https://www.forexlive.com/centralbank/us-data-due-wednesday-jolts-report-a-fed-go-to-measure-of-labour-market-health-20240904/
[2] https://finance.yahoo.com/video/jolts-report-us-headed-toward-150646142.html?_guc_consent_skip= [login to see]
[3] https://www.bls.gov/jlt/news.htm
[4] https://www.fxstreet.com/economic-calendar/event/9ba65d91-c2d2-4e4b-b6f3-dfe3677dc980
[5] https://www.investing.com/economic-calendar/jolts-job-openings-1057
[6] https://www.cnbc.com/2024/01/03/jolts-november-2023-job-openings-nudged-lower-down-to-1point4-per-available-worker.html
[7] https://www.bls.gov/jlt/
[8] https://www.advisorperspectives.com/dshort/updates/2024/07/30/job-openings-jolts-june-2024
JOLTS Home
Posted from bls.gov
Economy
Employment
Stock Market
Posted 3 mo ago
Responses: 1
2
2
0
Just my opinion, but, i think a big part of the problem is temp services. A company may say that a particular job is paying $X/hour, the person doing the job is not getting that X though. They're getting $X - temp service fee. Usually with no benefits. As a skilled tradesman, I didn't have to deal with that kind of thing. I did go into a couple places as a possible temp. When the person doing the hiring saw the resume I was shifted to permanent hire on the spot. I'm a very isolated case though. Many folks just aren't going to play the Temp game and companies need to start finding and hiring their own employees or continue to suffer with what they get from the agencies.
(2)
(0)
SPC Jeff Daley, PhD
SGT (Join to see) - Temporary hires are included in the Job Openings and Labor Turnover Survey (JOLTS) report. The JOLTS program covers all private nonfarm establishments, as well as civilian federal, state, and local government entities. This includes temporary help agencies and employees placed at client sites.
(1)
(0)
Read This Next
Continue with Facebook 
Continue with Google