The Job Openings and Labor Turnover Survey (JOLTS) will be released on Tuesday by the U.S. Bureau of Labor Statistics (BLS). The publication will provide data on the change in the number of job openings in December, along with the number of layoffs and resignations.
The JOLTS data is closely watched by market participants and Federal Reserve (Fed) policymakers because it can provide valuable insight into supply-demand dynamics in the labor market, a key factor influencing wages and inflation. Job openings have been declining steadily since peaking at more than 12 million in March 2022, indicating a steady cooling in labor market conditions. In September, job additions fell to 7.44 million, the lowest level since January 2021, before rising to 7.8 million and 8.09 million in October and November, respectively.
