August JOLTS job openings: What It Means

August job openings fell to 7.08 million, below the roughly 7.2 million Street consensus and down from 7.27 million in July, the third decline in four months. Hires held at 5.19 million, quits eased to 3.07 million and layoffs fell to 1.64 million, a mix consistent with rebalancing through attrition, not a labor market that is cracking. The release takes modest pressure off the case for another Fed hike at the October 27 to 28 meeting, but the bar for a sustained dovish shift is payrolls and wage growth, not vacancies. Yahoo Finance intraday: the dollar edged up 0.12 percent on the DXY, the 10-year yield climbed and the long bond ETF (TLT) sold off 4.35 percent, with the S&P 500 ETF (SPY) of…
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