Another slight disappointment from US jobs: JOLTS slid to 4.735 million in September. Nevertheless, this is around 20% higher than last year.
Quits rise to 2.8 million from 2.5 million, highest since April 2008 – good sign for confidence. People who quit jobs usually go for better paying ones.
This is the figure for September. The Fed closely follows this figure.
Earlier, jobless claims rose to 290K, worse than 282K predicted.
Here are some interesting quotes from the report:
Large numbers of hires and separations occur every month throughout the business cycle. Net employment change results from the relationship between hires and separations. When the number of hires exceeds the number of separations, employment rises, even if the hires level is steady or declining. Conversely, when the number of hires is less than the number of separations, employment declines, even if the hires level is steady or rising. Over the 12 months ending in September 2014, hires totaled 56.6 million and separations totaled 54.0 million, yielding a net employment gain of 2.6 million. These figures include workers who may have been hired and separated more than once during the year.
More:
- Are US wage hikes around the corner? March hike on the cards
- Are US salary raises around the corner? More evidence for a rate hike in March
