U.S. Job Openings Unexpectedly Drop in November
Published Jan 09, 2018 10:01AM ET
U.S. job openings clocks in at 5.879 million in November vs. 6.038 million forecast
Investing.com - The number of job openings in the U.S. unexpectedly fell in November, official data showed on Tuesday.
In the release of the monthly Job Openings and Labor Turnover Survey (JOLTS), the U.S. Labor Department said that the number of job openings, excluding the farming industry, fell to 5.879 million in November from 5.925 million a month earlier, which was revised down from the original reading of 5.996 million.
Analysts had expected the number of job openings to increase to 6.038 million in November from the previous month.
The report has garnered more attention despite the lag on the data, as outgoing Federal Reserve chair Janet Yellen has cited the survey when assessing the state of the labor market.
Additionally, the release noted that, over the month, hires and separations were little changed at 5.5 million and 5.2 million, respectively.
Within separations, the quits rate was unchanged at 2.2% and the layoffs and discharges rate was little changed 1.1%, according to the Bureau of Labor Statistics.
Following the report, EUR/USD was trading at 1.1924 from around 1.1925 ahead of the release of the data, GBP/USD exchanged hands at 1.3512 compared to 1.3514 previously, while USD/JPY was at 112.69 from 112.76 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 92.31, compared to 92.33 ahead of the report.
Meanwhile, U.S. stock markets traded with mixed signs after the open. The Dow 30 advanced 57 points, or 0.23%, the S&P 500 inched up 1 point, or 0.05%, while the Nasdaq Composite edged down 5 points, or 0.07%.
Elsewhere, in the commodities market, gold futures traded at $1,311.60 a troy ounce, compared to $1,310.70 ahead of the data, while crude oil traded at $61.97 a barrel from $61.98 earlier.
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Written By: Investing.com
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