Job openings came in at 3.974 million, below the 4.015 million expected but up from December’s revised print of 3.914 million.
The hire rate and separation rate were basically unchanged at 3.3% and 3.2%, respectively.
The Bureau of Labour Statistics’ “JOLTS Report” may not be as market moving as monthly nonfarm payrolls, but it does gives key insights into the labour market on hires, quits, layoffs, and job openings.
In fact, the Federal Reserve’s new chair Janet Yellen has cited JOLTS as one of her favourite reports. As the unemployment rate edges toward the Fed’s targets over the next few years, JOLTS could possibly play a larger role when the central bank determines interest rate policy.