American job quits rate reaches 17-year maximum

American job quits rate reaches 17-year maximum

In May, more American staff members voluntarily left their jobs, as government data revealed on Tuesday. That’s a definite sign of confidence in the labor market, which market experts tell will spur wage surge in the nearer future.

The Labor Department informed that the number of employees leaving positions of their own free will tacked on 212,000 to 3.3 million.

It lifted the job quits rate 1/10 of a percentage point to about 2.4%, which is the highest outcome since April 2001.

Apparently, the soar in the quits rate that policymakers as well as market experts consider to be a gauge of job market confidence, drives hopes that wage leaps will speed up in 2018.

Wage inflation has been still mild notwithstanding tightening labor market conditions. As for annual wage surge, as measured by average hourly earnings, it has struggled to overleap 3%, soaring 2.7% in June.

Labor market strength as well as steadily soaring inflation probably keep the key US financial institution on course to have interest rates lifted again in August. In June, the Fed ramped up borrowing costs for a second time in 2018 and predicted two more rate lifts by the end of this year.

Staff members voluntarily leaving their positions in May were mainly concentrated in the health care, finance, social assistance, utilities, finance, insurance, transportation as well as warehousing industries.

According to the JOLTS report, there were up to 6.6 million unfilled positions at the end of May in contrast with the record outcome of 6.8 million vacancies in April. As for job openings, they’re still elevated and keep suggesting a shortage of skilled employees, with the labor market near or even at full employment.

The hires rate managed to ascend 1/10 of a percentage point to about 3.9%. That’s the highest value since March 2007.



News to trade on December 11

Today the British PM Theresa May plans to discuss the current conditions of the Brexit deal with the European leaders. Is it happening again? What else will move the world of Forex today? Read the news!

China property will decelerate in 2019

In 2019, China's massive property market is anticipated to speed down further, with smaller price leaps as well as diving home sales contributing to pressure on the world's number two economy, according to a Reuters survey…

Japanese economy contracts most for four years

In the third quarter, the Japanese economy shrank the most for more than four years due to the fact that Japanese companies reduced spending, thus threatening to affect the investment outlook next year because the export-reliant Asian country grapples…

Latest news

Greenback edges down

On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…

Deposit with your local payment systems


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera