JOLTS - Job Openings come in lower than expected
JOLTS - Job Openings
Rep: 8.863m 🚨Lower than Expected 🚨
Exp: 8.900m
Prev: 8.889m
Long Term Trend (DOWN)
Since May 2022 we have remained in a downward sloping channel reducing from 11.85m to current day 8.863m in job openings (see channel on chart).
Shorter Term Trend (Turning Down)
The number of job openings went down by 26,000 from the previous month to 8,863 million in January 2024, the lowest in past three months and below the market consensus of 8.9 million.
Recent Months Movements
OCT - 8.690m (Local Low)
NOV - 8.930m (Local High) ~240,000 Increase
DEC - 8.889m (Lower) ~ 41,000 decrease
JAN - 8.863m (Lower) ~ 26,000 decrease
The hardest hit sector in the JOLTS Job Openings report was Retail with 170,000 less job openings than in Dec 2023 đź‘€
Could this be staff let go in January 2024 after the Christmas retail rush?
Interestingly, on Monday the Johnson Redbook Index noted an increase from 2.7% to 3.1% in retail sales suggesting that sales from retail stores increased slightly last week.
The Redbook Index provides the YoY percentage increase or decrease of USD in retail sales in the United States (it is released weekly for the week that just past).
Currently the Redbook Index is oscillating around the average 3.59% level on the chart for retail sales. The Index currently illustrates that we are in moderate retail sales channel and this might reinforce that the 170,000 reduction in retail Job offerings may be seasonal.
Please review Macro Monday from this week for a full review of the Redbook Index and its chart history.
Thanks folks
PUKA
Rep: 8.863m 🚨Lower than Expected 🚨
Exp: 8.900m
Prev: 8.889m
Long Term Trend (DOWN)
Since May 2022 we have remained in a downward sloping channel reducing from 11.85m to current day 8.863m in job openings (see channel on chart).
Shorter Term Trend (Turning Down)
The number of job openings went down by 26,000 from the previous month to 8,863 million in January 2024, the lowest in past three months and below the market consensus of 8.9 million.
Recent Months Movements
OCT - 8.690m (Local Low)
NOV - 8.930m (Local High) ~240,000 Increase
DEC - 8.889m (Lower) ~ 41,000 decrease
JAN - 8.863m (Lower) ~ 26,000 decrease
The hardest hit sector in the JOLTS Job Openings report was Retail with 170,000 less job openings than in Dec 2023 đź‘€
Could this be staff let go in January 2024 after the Christmas retail rush?
Interestingly, on Monday the Johnson Redbook Index noted an increase from 2.7% to 3.1% in retail sales suggesting that sales from retail stores increased slightly last week.
The Redbook Index provides the YoY percentage increase or decrease of USD in retail sales in the United States (it is released weekly for the week that just past).
Currently the Redbook Index is oscillating around the average 3.59% level on the chart for retail sales. The Index currently illustrates that we are in moderate retail sales channel and this might reinforce that the 170,000 reduction in retail Job offerings may be seasonal.
Please review Macro Monday from this week for a full review of the Redbook Index and its chart history.
Thanks folks
PUKA
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