US JOLTS survey for March may point to labour market slowdown
By Alexander Bueso
Date: Tuesday 09 Apr 2019
(Sharecast News) - Labour demand in the States deteriorated quite sharply in February, possibly adding to evidence of a slowdown in hiring, the results of a closely-followed survey showed.
According to the Department of Labor, the number of job openings retreated by 538,000 to reach 7.1m (consensus: 7.566m), with the job openings rate declining to 4.5% - an 11-month low - although at 5.7m the number of hires did not see a big change from the month before.
The biggest decrease in openings was in the private sector, where they fell by 523,0000.
In parallel, the so-called 'quits' rate was unchanged at 2.3%, with the total number of what are typically voluntary separations little changed at 3.5m, the government said.
Commenting on Tuesday's data, Andrew Hunter at Capital Economics pointed out how the job quits rate had been steady since mid-2018.
Together with the declining proportion of companies in the NFIB's monthly survey of small-sized firms, released earlier, the JOLTS survey "suggests that wage growth may not have much further to rise".
Hunter also saw signs in the latest NFIB numbers that "investment growth is set to slow", of a "clear deterioration in confidence over the past six months" and in the Fed's most recent Senior Loan Officer Survey that "investment is also starting to be constrained by a worsening availability of credit."
Special promo:
Trading the Forex Market? Visit FXmania.com to get advanced infomation about currencies and the Foreign Exchange
Market.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN