US Daily Data Recap "Openings stable, labor market differential falls" Wilcox

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US Daily Data Recap "Openings stable, labor market differential falls" Wilcox

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US Daily Data Recap Economics

AmericasOpenings stable, labor market differential falls

Amanda Wilcox

Economist

JOLTS job openings were little changed in May, against our expectation that the series amanda.wilcox@ubs.com

+1-212-713 3899

would turn down after a narrowly-driven jump in April that looked out of place relative

to other job openings measures and its own history. However, in May, openings were Jonathan Pingle

supported by broader, more modest increases across sectors, including several that may Economist

have been bolstered by world cup-related hiring, a parallel to some dynamics of the May jonathan.pingle@ubs.com

+1-212-713 2225

nonfarm payroll employment report. In the June jobs report due out Thursday, we expect

world cup-related hiring was a 15K to 20K addition to the change in private Alan Detmeister

employment in June. We expect nonfarm payroll employment expanded 80K in June. Economist

See our preview on page 30 of the US Economics Weekly. alan.detmeister@ubs.com

+1-212-713 1222

Abigail WattConference Board consumer confidence edged up 0.6 points to 91.2 in June, but

disappointed expectations due to a downward May revision. The labor market abigail.watt@ubs.com

differential fell to levels unseen since early 2021 as the share of respondents reporting +1-212-882 6929

jobs as "hard to get" rose. Oil rig counts rose again in the week ending June 26, adding

Jalen Nichols

to the recent string of gains, which suggests some response to oil supply constraints.

jalen.nichols@ubs.com

Regional Fed Presidents Hammack and Barkin both described inflation as "too high" +1-212-882 6905