The latest read on job openings and labor turnover in the US will be out at 10 a.m. ET.
Economists forecast that job openings ticked down slightly to 5.725 million in March, according to the Bloomberg survey.
The JOLTS report touches on how many opportunities are available as well as the pace of layoffs and resignations in the US labor market.
The report also includes the quits rate, one of Federal Reserve Chair Janet Yellen’s favored labor market indicators. The quits rate slipped to 2.1% in February from its post-recession high of 2.2%.
Although the word “quit” comes with a slew of negative connotations, a higher quits rate actually sends a message about rising worker confidence in the labor market.
The thinking here is that during good economic times, people feel comfortable quitting a job because they believe they can find another quickly, or because they have already found another one. On the flip side, when there are layoffs during economic downturns, few feel comfortable leaving their jobs.
Taking that idea one step further, some economists have pointed out that the quits rate tends as a leading indicator of wage growth.
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May 09, 2017 at 06:39PM
from Elena Holodny
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