The number of job openings on the last business day of July stood at 9.58 million, the US Bureau of Labor Statistics (BLS) reported in the Job Openings and Labor Turnover Survey (JOLTS) on Tuesday. This reading followed 9.16 million (revised from 9.58 million) openings in June and came in below the market expectation of 9.46 million.
"Over the month, the number of hires and total separations changed little at 5.8 million and 5.5 million, respectively," the BLS further noted in its publication and added:
"Within separations, quits (3.5 million) decreased, while layoffs and discharges (1.6 million) changed little."
Market reaction
The US Dollar came under selling pressure with the immediate reaction and the US Dollar Index turned negative on the day below 104.00.
JOLTS data will be scrutinized by market participants and Federal Reserve policymakers because it could provide valuable insights regarding the supply-demand dynamics in the labor market, a key factor driving up salaries and inflation.
Source : FXstreet
