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US JOLTS release on deck ahead of Friday Nonfarm Payrolls
Economists expect July job openings around 7.3 million, a figure only slightly below June, which may limit near-term impact on the US dollar unless it comes closer to the 2025 average of 7.1 million.
FXStreet says the US Bureau of Labor Statistics will publish the July Job Openings and Labor Turnover Survey, or JOLTS, at 14:00 GMT on Tuesday, with the data commonly watched because it arrives ahead of a full week of employment releases culminating in Friday’s Nonfarm Payrolls report.
The outlet notes JOLTS is a gauge of labor demand, but it includes a one-month lag because the figures correspond to July while the upcoming NFP will reflect August.
FXStreet adds that the US economy lost 23,000 jobs in July, pointing to potentially tepid labor demand in the JOLTS figures, and it cites an expected print of 7.3 million job openings, slightly below 7.359 million in June.
The newsletter also links the backdrop to currency expectations, stating that a reading closer to the 2025 average of 7.08 million could weigh on the US dollar, while a result near or above the 7.6 million level seen in April could support it, and it notes Fed Chairman Kevin Warsh emphasized at Jackson Hole that inflation, not labor conditions, is the main issue.