- The US JOLTS data will be watched closely by investors ahead of the September employment report.
- Job openings are forecast to stay below 8 million for the third consecutive month in August.
- Markets try to figure out whether the Fed will opt for another large rate cut at the next meeting.
The Job Openings and Labor Turnover Survey (JOLTS) will be released on Tuesday by the US Bureau of Labor Statistics (BLS). The publication will provide data about the change in the number of job openings in August, alongside the number of layoffs and quits.
JOLTS data is scrutinized by market participants and Federal Reserve (Fed) policymakers because it can provide valuable insights regarding the supply-demand dynamics in the labor market, a key factor impacting salaries and inflation. Job openings have been declining steadily since coming in above 12 million in March 2022, pointing to a steady cooldown in labor market conditions. In July, the number of job openings declined to 7.673 million, marking the lowest reading since January 2021.
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