US job openings rose in September, ahead of the payrolls report
The BLS reported 7.52 million job openings, up 333,000 from August and above the Dow Jones consensus of 7.15 million.
By BBCorp
What happened
The Bureau of Labor Statistics reported job openings at 7.52 million in September, an increase of 333,000 from the August level.
The figure came in above the Dow Jones consensus estimate of 7.15 million. The release lands ahead of the upcoming payrolls report.
Why it matters
Job openings data is one of the labour market indicators markets use to gauge the strength of US hiring demand. Readings that differ from consensus can shift expectations for the path of Federal Reserve policy, and those expectations feed through to the dollar, to Treasury yields and to equity valuations.
Gold is sensitive to the same channel, because it pays no yield and tends to be repriced when rate expectations and the dollar move. Crypto has also traded alongside broader risk sentiment around US macro releases.
What to watch
The next focus named in the reporting is the payrolls report that follows this release, and how it compares with the signal from job openings.
Markets in play
- USDExposure: HighLabour market data shapes Fed rate expectations, which are a primary driver of the dollar.
- GoldExposure: MediumGold responds to shifts in US rate expectations and the dollar that follow labour data.
- US stocksExposure: MediumHiring demand and the implied policy path affect equity risk sentiment and valuations.
USD
Gold