JOLTS Job Openings: Insights and Impact on Markets
JOLTS stands for Job Openings and Labor Turnover Survey, which is a monthly survey conducted by the United States Bureau of Labor Statistics. The survey measures job openings, hires, and separations in theUnited States labor market.
The job openings component of the survey measures the number of job openings on the last business day of the month in non-farm establishments. This includes jobs that are available for immediate filling as well as those that will be available in the near future. The survey also provides information on the industry and geographic location of the job openings.
The JOLTS job openings data is an important economic indicator, as it provides insight into the current state and future direction of the labor market. A high number of job openings can indicate strong demand for workers and a tight labor market, which may lead to wage growth and inflationary pressures. On the other hand, a low number of job openings may suggest a weak labor market and sluggish economic growth.
The JOLTS job openings data release causes a large amount of volatility in the markets, and traders should exercise caution when approaching the markets during the release of data. The previous JOLTS job openings data release on March 8, 2023 caused a price fluctuation over 100 pips on the Dow Jones Industrial Average (DJIA) within 15 minutes. JOLTS job openings data is schedule to be released on April, 4th 2023 at 10:00 AM EST.
