JOLTS Job Openings

The number of open jobs employers are advertising tells you how tight the labor market is. When openings are abundant, workers have leverage — wages rise, inflation is stickier, and the Fed stays hawkish. When openings collapse back toward pre-pandemic levels, the labor market is softening — a key signal the Fed watches before cutting rates. For anyone assessing job-switching risk or thinking about the inflation trajectory, this is the cleanest read on labor market pressure.