U.S. job openings remain almost unchanged in December, suggest healthy labor market

The U.S. Job Openings and Labor Turnover Survey (JOLTS) report for the month of December affirmed the sound health of the underlying labor growth in the U.S. The total number of job openings remained essentially unchanged in December from November’s revised print. Total number of job openings dropped a bit in December to 5.501 million from 5.505 million in November. The level of openings has increased sharply exceeding its earlier peak from 2014 and has moved higher steadily since, noted Barclays.

In recent months, the job openings level has steadied around five and half million in recent months after rising sharply to 5.8 million in July. However, at this level, the survey shows that jobs are available, but being filled, and is an indication of labor market tightness, according to Barclays.

The quits rate was widely unchanged at 2 percent and is consistent with the average quit rate at the peak of the last cycle in 2005 and 2006. The quits rate is used to judge the level of worker confidence in the economy. The typical worker leaves a job only when they feel confident about finding a new job or are economically comfortable to be out of work for some time. The rate of shedding job remained at 1.1 percent, close to its historical low of 1 percent, added Barclays.

At 6:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was slightly bullish at 54.6389. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex