Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
The April JOLTS report was mixed. Openings pointed to an unexpected tightening in the labor market: whereas a decline in job openings to 9,400k from 9,590k in March had been expected, we got a rise to a 3-month high 10,103k from an upwardly revised 9,745k. That was the first M/M since December 2022.
- The ratio of job openings to the number of unemployed people also hit a 3-month high of 1.78 (was 1.67 in March).
- On the other hand the quits rate paints a slightly looser labor market picture vs prior: the overall rate dropped to the lowest since Feb 2021 at 2.4% (from 2.5% in March) overall quits rate was 2.4%, private quits rate was steady at 2.7%,
- Total separations and layoffs/discharges decreased; hires rose.
- Overall this report is reflective of a labor market that doesn't remain as tight as it did in late 2021/early 2022 - but it may not be cooling quickly enough for the Fed's comfort.
- While this report is based on developments in April, it sets the stage for Friday's May payrolls report which could help tip the balance toward a hike (or not) at the June FOMC meeting.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok