Financial News: US JOLTS Data Released On Tuesday: What Economists

US JOLTS Data Released On Tuesday: What Economists Said

06/04/2024 - 13:58:00 (RTTNews)

(RTTNews) - The Labor Department said on Tuesday that <a href=https://www.rttnews.com/3452165/u-s-job-openings-show-modest-decrease-in-april.aspx?type=alleco target=_blank >job openings fell to 8.059 million in April</a> from a downwardly revised 8.355 million in March.

Economists had expected job openings to dip to 8.340 million from the 8.488 million originally reported for the previous month.

<b>Oxford Economics</b>: US Lead Economist Nancy Vanden Houten said the decline in openings signal a slower pace of hiring in the months ahead and with layoffs remaining low, net job growth should continue to be positive.

The unchanged quits rate is at a level that is consistent with ongoing moderation in wage growth, the economist added. "The Federal Reserve will welcome signs of cooler labor market conditions, but the JOLTS data don't change our view that the Fed will be content to keep interest rates at current levels until September," Vanden Houten said.

"The labor market remains healthy enough to allow Fed policy decisions to be primarily guided by readings on inflation. April data on inflation were encouraging, but the Fed needs to see more than one month of good data before lowering interest rates."

<b>Capital Economics</b>: North America economist Thomas Ryan said the April JOLTS data provided further evidence of normalization, with job openings falling further, layoffs still at historically low levels and the leading indicators all pointing to wage growth cooling.

For comments and feedback: contact editorial@rttnews.com

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS

Atlanta Fed Sees U.S. Q3 GDP Growth At 2.8% (08 hr(s), 33 min(s), 47 sec(s) ago)
(RTTNews) - The Atlanta Fed released its initial estimate for the third quarter growth based on it ...Full Story»

U.S. Consumer Sentiment Index Dips Slightly Less Than Previously Estimated In July (10 hr(s), 24 min(s), 47 sec(s) ago)
(RTTNews) - The University of Michigan released revised data on Friday showing consumer sentiment ...Full Story»

U.S. Consumer Prices Inch Up 0.1% In June, In Line With Estimates (11 hr(s), 21 min(s), 47 sec(s) ago)
(RTTNews) - Consumer prices in the U.S. crept up in line with economist estimates in the month of ...Full Story»

Spain Jobless Rate Lowest Since 2008 (11 hr(s), 35 min(s), 47 sec(s) ago)
(RTTNews) - Spain's unemployment rate fell to the lowest level in nearly 16 years in the secon ...Full Story»

Denmark Retail Sales Fall 0.1% (11 hr(s), 43 min(s), 47 sec(s) ago)
(RTTNews) - Danish retail sales decreased slightly in June after recovering in the previous month, ...Full Story»

Hungary Jobless Rate Falls To 4.3% (11 hr(s), 59 min(s), 47 sec(s) ago)
(RTTNews) - Hungary's unemployment rate decreased slightly during the April-June period, data ...Full Story»

U.S. PCE Price Index Inches Higher In June, Annual Growth Slows To 2.5% (12 hr(s), 08 min(s), 47 sec(s) ago)
(RTTNews) - Consumer prices in the U.S. crept up in line with economist estimates in the month of ...Full Story»

Russia Central Bank Hikes Rate By 200 Bps (12 hr(s), 21 min(s), 47 sec(s) ago)
(RTTNews) - Russia's central bank raised its benchmark rate by 200 basis points on Friday amid ...Full Story»