U.S. October job openings and labor turnover 7.67 million…Labor market more resilient than expected

U.S. job openings and labor turnover figures for September and October exceeded market expectations.

On the 9th (local time), overseas economic news channel Walter Bloomberg cited the U.S. Department of Labor's October JOLTs job openings and labor turnover report, saying that U.S. job openings and labor turnover totaled 7.67 million, above the market forecast of 7.12 million.

Also, the September figure, whose release had been delayed by the shutdown, was confirmed at 7.658 million. It remained higher compared with the market expectation of 7.20 million and the previously released figure of 7.227 million.

Job openings and labor turnover numbers are indicators of labor market health; generally, when job openings and labor turnover increase, the labor market is considered to be operating healthily.

Meanwhile, labor market trends are the biggest variable for future interest rate decisions and are considered the area to which the U.S. central bank, the Federal Reserve (Fed), reacts most sensitively in its policy judgments.