JOLTS (Job Openings) Data To Be Reported, Expect A Decline

The upcoming release of the Job Openings and Labor Turnover Survey (JOLTS) data will provide key insights into the health of the labor market and the broader economy. This report tracks job vacancies, offering a gauge of employer demand for workers. Economists use this data to assess the strength of the business cycle.

Current forecasts suggest a decline in job openings for the upcoming JOLTS report, continuing the downward trend observed after a potential holiday-related surge in December. This December uptick may prove temporary and is expected to dissipate in the January figures. A consensus forecast anticipates job openings around the 7 million mark.

If the actual number aligns with this prediction, it could signal a slowing economy, potentially leading to decreased interest rates. Furthermore, ongoing economic uncertainties, including the potential impact of tariffs implemented during the Trump administration, may be contributing to businesses' cautious hiring approach.