US JOLTS job openings expected to tick down in February
The forthcoming Job Openings and Labor Turnover Survey (JOLTS) data, scheduled for release by the US Bureau of Labor Statistics (BLS) on Tuesday, will be closely analyzed in anticipation of Friday’s March employment report. Market forecasts anticipate a decrease in job openings to approximately 7.63 million for February. Federal Reserve (Fed) policymakers consider the labor market’s condition a critical determinant in monetary policy decisions. The JOLTS report provides data on job openings, layoffs, and quits, offering insights into labor market supply and demand, which significantly influences wage levels and inflation. Since peaking above 12 million in March 2022, job openings have generally trended downward, signaling a gradual moderation in labor market conditions. A low of 7.44 million was recorded in September 2024, the lowest since January 2021, followed by increases to 7.8 million and 8.09 million in October and November, respectively. December 2024 data registered 7.5 million, preceding a rebound to 7.74 million in January.
