US job openings falter, hiring hits all-time high: JOLTS

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US job openings falter, hiring hits all-time high: JOLTS

On Monday, the 10th of June 2019, the Job Openings and Labor Turnover Survey (JOLTS) of US Labor Department had revealed a report showing US job opening fell slightly on April, but hiring remained at an all-time high, pointing out that the strength of US labor market before latest escalation of trade wars, while analysts had blamed China tensions alongside threats Mexico border tariffs behind the recent shortfall.

Besides, the Monday’s (June 10th) JOLTS report from US Labor Department had revealed an uptick in corporate and non-corporate downsizing, although the figure remained at a historically low level amid an intransigent labor market.

According to Monday’s (June 10th) JOLTS data, US job opening, a critical indicator of labor market demand, had fallen slightly to a seasonally adjusted 7.4 million from 7.5 million a month earlier in April, while the job openings remained unchanged at 4.7 percent.

Apart from that, hiring climbed to an all-time high on April by 5.9 million or 2,40,000 jobs, remarking its highest level since the US Government had started tracking the figure back in the 2000s Adding that US job growth was favorable before escalation of Sino-US trade spat and Trump’s threat on Mexico border tariff, an economist at JPMorgan in New York, Daniel Silver said, “The April JOLTS report probably is not the most useful indicator about current labor market conditions.

But for what it’s worth, the JOLTS data show that conditions in the labor market generally remained favorable as of April”.