Job openings tick lower, consumer confidence rises

The June Job Openings and Labor Turnover Survey (JOLTS) shows there were 8.18 million job openings in the month, sightly lower than the revised 8.23 million openings in May.

The hires number was 5.3 million and total separations were 5.1 million, also little changed from the prior report. The quits rate was 3.3 million.

Meanwhile, the July Consumer Confidence survey from The Conference Board shows consumers are feeling more positive, rising more than expected to 100.3, up from June's 97.8.

Catalysts anchors Seana Smith and Madison Mills break down the data in the video above.

For more expert insight and the latest market action, click here to watch this full episode of Catalysts.

This post was written by Stephanie Mikulich.

Video Transcript

All right.

First, let's get to some breaking news.

We have out first.

I want to get to the job openings.

The jolts number Just coming in here moments ago, slightly higher than what was what the street was looking for.

8.18 million.

It was essentially in line, slightly lower than what we saw the prior month, which was revised higher to 8.23 million.

The estimate for the most recent one month was 8 million flat, so again coming in slightly higher.

So the street had been anticipating here June job opening rate that was at 4.9 flat from the prior months, reading the pace of hiring that came in at 3.4% slightly down here, off 2.

10 of a percent from the prior month, a 3.6%.

When it comes to that quits number 3.28 million people quit their job in June, the quit rate right around 2.1%.

So we are seeing a bit of a reaction play out in the markets to this report, but again, essentially in line with what we saw from the prior month reading, which was revised higher, this number coming in slightly higher than what the street had been looking for.

And as you take a look at the market's reaction, some of this may be tied to this report.

Here.

You do have the NASDAQ, now in negative territory, so pairing those earlier gains that we saw shortly after the open that and I'm going to run through some of the consumer confidence numbers for July here, rising to 100.3 versus the 97.8 that we saw in the prior month in the 99.7 that was expected from a.

But this falls above the or just below rather the kind of median of the range that was anticipated here.

Interesting to note as well that a median inflation expectations are at 4.3%.

That follows 4.4% from the prior months have seen just a tiny take down when it comes to consumer expectations for inflation.

Specifically, we also see present situation confidence falling to 100 33.6 versus 135.3 last month.

So certainly a mixed picture when it comes to the consumer confidence data.

I do want to point out the context of this survey, though it's a survey of 3000 households that basically get a phone call and they say, Hey, how are you feeling about the economy?

What's your confidence level?

So it really is kind of a good look at just the vibes that people are having about the economy, but not necessarily the best in terms of actual hard data.