US Job Openings Up Slightly in January

Monthly jobs openings — a gauge of the U.S. economy that’s closely watched by Fed chair Janet Yellen — were little changed in January, the Bureau of Labor Statistics said on Thursday.

Monthly job openings were at 5.6 million on the last business day in January, the Labor Department said, up slightly from the 5.5 million openings in the previous month.

Over the month, hires and separations were little changed at 5.4 million and 5.3 million, respectively.

The quits rate was little changed at 2 .2 percent as well as the layoffs and discharges rate at 1.1 percent.

More than 3.2 million people quit their jobs in January, the most in nearly 16 years. That is a sign of confidence in the job market, since workers typically quit either when they have another job, or do not but are optimistic they can find one.

More quitting also boosts wages, because most people quit for a new job at higher pay. It also indicates that employers may be recruiting workers from other jobs by offering bigger paychecks.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza