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JOLTS: job postings to remain strong in a tight labor market - Nomura

Analysts at Nomura offered a review of the JOLTS data.

Key Quotes:

"Job openings rose to 6093k in September, a modest acceleration from 6090k in August. The job openings rate was unchanged at 4% from August. The separation rate also remained unchanged at 3.6%. 

The improvement in job openings was driven by a pick-up in job openings in professional & business services, while leisure and hospitality sector job openings fell by the most since July 2014. It is likely that much of the impact on job openings in this sector was driven by the recent hurricanes. 

Overall, however, we expect any weather effect in the September report to be transitory and job postings to remain strong in a tight labor market. Labor market turnover (the sum of hires and separations divided by two times employment) remains subdued in the report, falling slightly during the month."

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