Job Openings Total Nonfarm and Manufacturing on a nice rise and continuing to surprise forecasters. Job Openings leans more towards a market psychology indicator than a hard economic measure. Employers often advertise their needs on multiple sites to attract a pool of applicants from which to choose those believed to be the better fits. So, while the direction indicates a change in labor demand, the extent does equal the actual number of openings except more likely for low periods of economic activity. The swing in these indicators correlates with the PMI indicator which fluctuates often as do expectations for the economy. Thus with the PMI just rising above 50 in recent months we are seeing a significant rise in job openings.
