w fast employment can recover?
The Job Opening and Labor Turnover Survey (JOLTS) report in August, showed total US job openings started slightly to ease, however it is still high and now we are waiting to see what will be the results of October, and how employees are interested to get back to their jobs. The shortage of labor market in line with increasing vacancies and job opportunities evokes the feeling that employees can leave their current jobs and find better opportunities with higher income.
For today`s report, and after increasing NFP numbers and sharply decreasing weekly initial jobless claims, seeing lower JOLTs number, even less than 1M is normal and not far than expectations.
On the other hand, if we can see the opportunities still high with more hirings, changing the FED focus from the labor market to the inflation.
About the effects in the market, increasing job opportunities more than 10.300M expectations will increase the US Dollar demand and put more pressure on stock markets, as it will also increase the expectations for more tightening policies.
Dow Jones industrial average closed with a 0.44% loss last night, but the futures market raised today after a long fall as a correction. Technically the second support at 35,870 is the key support. In the mid-term, we are in a clear downtrend with RSI at 40. However flatting price with OBV trend line, signaling the possibility of return.
