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U.S. JOLTS Disappoints Vs Lofty Expectations

DATA REACT

Today's JOLTS report shows the quits rate is coming back to Earth (2.5% in May vs 2.8% in April), though that was probably inevitable from such elevated levels (April's 3.1% was the highest for private industry since the series began in 2000, and is now 2.8%); headline job openings miss (9,209k vs 9,325k) and almost 100k downward revisions to prior. But as it's a May report, it's already a little dated.


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