The Job Openings and Labor Turnover Survey, carried out by the U.S. Bureau of Labor Statistics, collects data from employees to estimate the total number of job vacancies.
Why is it important?
An increase in the number of job vacancies can be an indicator of thriving economic conditions. Business boom, as a rule, is accompanied by a growing number of job offerings. When the economy is contracting, the number of open positions in privately owned business is expected to do the same. Therefore, by taking a look at several consecutive U.S. JOLTs Job Openings readings it is possible to estimate at which direction the US economy is heading.
Unemployment and trading
A reading that is stronger than forecast is generally bullish for the USD, while a weaker than forecast reading is generally bearish for the USD.
