According to our analysis USDJPY and EURUSD moved 36 pips on US BLS Job Openings and Labor Turnover Survey (JOLT) data on 5 December 2023.

USDJPY (25 pips)

EURUSD (11 pips)

Charts are exported from JForex (Dukascopy).

Analyzing the October 2023 Job Openings and Labor Turnover Report: What the Numbers Reveal about the U.S. Labor Market

Introduction: The U.S. Bureau of Labor Statistics recently released its Job Openings and Labor Turnover report for October 2023, providing valuable insights into the dynamics of the country's labor market. This comprehensive report covers key indicators such as job openings, hires, and separations, shedding light on trends that impact various industries and employment sectors.

Job Openings: A Closer Look: The report highlights that the number of job openings decreased to 8.7 million on the last business day of October, reflecting a decline of 617,000. This dip is particularly noteworthy, and the job openings rate, standing at 5.3 percent, decreased by 0.3 percentage points over the month and 1.1 points over the year.

The health care and social assistance, finance and insurance, and real estate and rental and leasing sectors experienced declines in job openings. However, the information sector saw an increase of 39,000 job openings. This variance among sectors indicates the diverse landscape of employment opportunities in the U.S.

Hires and Separations: A Balanced Perspective: October 2023 saw relatively stable numbers in hires and total separations, with 5.9 million hires and 5.6 million total separations. The hires rate remained at 3.7 percent, demonstrating a steady pace in recruitment activities. Accommodation and food services, however, experienced a decrease in the number of hires by 110,000, suggesting a potential shift in this sector.

Total separations include quits, layoffs and discharges, and other separations. The quits rate, a measure of employees' willingness or ability to leave jobs, remained at 2.3 percent for the fourth consecutive month. Professional and business services saw an increase in quits by 97,000. Layoffs and discharges remained stable at 1.6 million, with no significant changes across industries.

Establishment Size Class: A Nuanced Perspective: The report breaks down the data by establishment size class, revealing interesting patterns. In October, job openings, hires, and total separations rates remained relatively stable for establishments with 1 to 9 employees. However, establishments with 5,000 or more employees saw a decrease in the quits rate and total separations rate, offering insights into the dynamics of larger enterprises.

Conclusion: The October 2023 Job Openings and Labor Turnover report provides a comprehensive snapshot of the U.S. labor market, showcasing both challenges and opportunities. The decline in job openings and shifts in hires across sectors indicate a dynamic environment. As we await the November 2023 estimates, policymakers, businesses, and job seekers can use this data to make informed decisions and navigate the evolving landscape of the U.S. labor market.

Source: https://www.bls.gov/news.release/jolts.nr0.htm

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