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Here come JOLTS ...

Oct 12, 2016, 19:21 IST

US Air Force

The Job Openings and Labor Turnover Survey for August will be released at 10 a.m. ET.

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Economists estimate that there were 5.8 million job openings that month, according to Bloomberg, little changed from the record of 5.871 million reported in July.

That record could be revised in the upcoming report.

The surge in job openings has not been matched with hiring, creating one of the labor market's biggest puzzles. It's partly because employers aren't finding the skilled and/or qualified candidates they are looking for. It also suggests that there's still room for more growth in hiring.

One reason economists have paid closer attention to this report in recent years is that it contains the quits rate, which Federal Reserve Chair Janet Yellen endorsed as a preferred metric.

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It gauges voluntary separations initiated by employees. A higher quits rate sends a positive message about the labor market because people are more likely to quit their jobs if they feel confident about finding a new one quickly or if they already have another offer.

More to come ...

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