Wall Street will not be pleased with the July Job Openings and Labor Turnover Survey Report. The slight uptick in job openings is all Powell needs to show a strong labor market in the US, and jump up interest rates
The number of job openings was little changed at 11.2 million on the last business day of July, the U.S. Bureau of Labor Statistics reported today. Hires and total separations were little changed at 6.4 million and 5.9 million, respectively. Within separations, quits (4.2 million) and layoffs and discharges (1.4 million) were little changed. This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, and by establishment size class.
In short, everything stayed more or less the same as June, with more job openings than Powell wants.