The latest JOLTS data is due for release on Tuesday (September 10):
While the NFP captures a lot of attention, the JOLTs data provides much labor market detail to Federal Reserve officials. While it is a little dated (Tuesday’s release is of July data), the guidance and details it gives on hires and turnover is an important input to Fed assessment of the heath (or otherwise) of the labor market.
The FOMC meets on September 17 – 18, and the pre-FOMC media ‘blackout’ begins a week beforehand … which according to my calendar means we wont be hearing too much (nothing at all, actually) from Fed officials from the time the JOLTs data is made public until after the FOMC meeting. Which is a shame, as this data will be influential in the ‘will we/wont we cut back on bond purchases debate’ at the FOMC (my tip for the past few months has been they will).
