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Surprisingly Weak Openings But Quits Rate Ticks Back Higher

US DATA
  • A surprisingly large decline for JOLTS job openings to 9.93M (cons 10.50M) after a downward revised 10.56M
  • It leaves 1.67 openings per unemployed, down from a peak 2.01 in March and just below the prior recent low of 1.69 in August prior to the recent surprise resilience for the latest since Nov’21.
  • Quit rates on the other hand bounce a tenth to 2.59% total and 2.88% private, reversing most of January’s dip although still maintaining a trend move lower with 2019 averages of 2.3 and 2.6 respectively.

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