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Job Openings In Line Whilst Quit Rates Drop Back

US DATA
[correcting for a belated update on Bloomberg to the May revision, with job openings now 9.62m and not the 9.82m as originally stated]
  • JOLTS job openings were in line at 9.58m (cons 9.6m) in June for little change from a downward revised 9.62m in May (initially 9.82k in May).
  • It left the ratio to unemployed ticking up from 1.58 to 1.61 but the trend remains an improvement from prior levels including a spike to 1.82 back in April, with the latest limited by the number of unemployed also falling in June.
  • Quit rates meanwhile, after providing a surprisingly strong angle last month, fell back to 2.41 after surprisingly increasing from 2.42 to 2.61 in May for its highest since Dec’22.
  • There was a similar story in private quits, from 2.90 to 2.69 and back near April’s 2.68.

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