More great news from the US jobs front: JOLTs leap to 5.376 million in April, far better than expected. This is the highest in the series. In addition, the number for March was upgraded to 5.109 million from 4.99 originally reported. Quits remained at 2.7 million.
Also wholesale numbers beat expectations. Can the US recover?
US JOLTs job opening were expected to stand at 5.03 million in April, after 4.99 in March (before revisions). Despite lagging the Non-Farm Payrolls, this employment indicator carries weight thanks to Fed, which closely watches the data released here for understanding the broader employment trends.
Here is our preview: trading the JOLTs with USD/JPY.
At teh same time, we learned that wholesales sales rose by 1.6%, more than triple the early expectations. Wholesale inventories are up +0.4%, double the predictions.
The number of quits is also of importance, as people quitting jobs often either seek a position with a higher paying salary. In addition, it reflects confidence.
In another figure for April, the Atlanta Fed showed that wage growth is the highest in 6 years.
Friday’s Non-Farm Payrolls showed a solid jobs gain of 280K in May, up from April and March.
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