The number of job openings on the last business day of July stood at 7.67 million, the US Bureau of Labor Statistics (BLS) reported in the Job Openings and Labor Turnover Survey (JOLTS) on Wednesday.
US JOLTS Job Openings declined further in July. US Dollar Index stays in negative territory below 101.50. The number of job openings on the last business day of July stood at 7.67million, the US Bureau of Labor Statistics reported in the Job Openings and Labor Turnover Survey on Wednesday. This reading followed the 7.9million openings reported in June and came in below the market expectation of 8.1million. Over the month, hires changed little at 5.5 million, the BLS noted in its press release.
Moreover, a very tight labor market – a situation in which there is a shortage of workers to fill open positions – can also have implications on inflation levels because low labor supply and high demand leads to higher wages. Why is wage growth important? The pace at which salaries are growing in an economy is key for policymakers. High wage growth means that households have more money to spend, usually leading to price increases in consumer goods.
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