JOLTs job openings for April 8.059M vs 8.355M estimate. Lowest level since February 2021

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  • Prior month 8.488 million revised to 8.355M
  • Quits rate 2.2% versus 2.2% revised
  • Vacancy rate 4.8% versus 5.0% revised

Details from the Labor Department

Job Openings

  • Number of job openings: 8.1 million (little change)
  • Yearly decrease: 1.8 million
  • Rate: 4.8% (little change)
  • Decreases:
    • Health care and social assistance: -204,000
    • State and local government education: -59,000
  • Increases:
    • Private educational services: +50,000

Hires

  • Number of hires: 5.6 million (little change)
  • Rate: 3.6% (unchanged)
  • Increases:
    • Durable goods manufacturing: +52,000
  • Decreases:
    • Arts, entertainment, and recreation: -45,000
    • Federal government: -8,000

Separations

  • Total separations: 5.4 million (little change)
  • Rate: 3.4% (unchanged)
  • Increase:
    • Durable goods manufacturing: +49,000

Quits

  • Number of quits: 3.5 million (little change)
  • Rate: 2.2% (sixth month in a row)
  • Decreases:
    • Professional and business services: -131,000
  • Increases:
    • Other services: +67,000
    • Durable goods manufacturing: +39,000
    • State and local government education: +32,000

Layoffs and Discharges

  • Number: 1.5 million (little change)
  • Rate: 1.0% (unchanged)
  • Decrease:
    • Arts, entertainment, and recreation: -37,000

Other Separations

  • Number: 349,000 (little change)

The trend to the downside in job openings continues.

US yields continue to drop:

  • 2-year yield 4.772%, -4.5 basis points
  • 10-year yield 4.349%, -5.3 basis points. Lowest level since May 17. The high yield back on May 29 was at 4.638% – nearly 30 basis points higher. The 10 year yield is testing its 100 and 200 day moving averages between 4.336% and 4.350%
  • 30-year yield 4.504%, -4.6 basis points

The decline in yields is not helping stocks that much. The NASDAQ and S&P remain in negative territory. The Dow industrial average is higher:

  • Dow industrial average was 32.5 points or 0.08%
  • S&P index -12.6 points or -0.24%.
  • NASDAQ index -52 points or -0.35%.

This article was written by Greg Michalowski at www.forexlive.com.



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