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U.S. job openings unexpectedly drop in December

Published 02/07/2017, 10:01 AM
© Reuters.  U.S. job openings fall to 5.501 million in December vs. 5.568 million forecast
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Investing.com - The number of job openings in the U.S. unexpectedly fell in December, but remained in territory consistent with an improving labor market as employers actively seek workers, official data showed on Tuesday.

In the release of the monthly Job Openings and Labor Turnover Survey (JOLTS), the U.S. Labor Department said that the number of job openings, excluding the farming industry, decreased to 5.501 million in December from 5.505 million a month earlier, which was revised from the original reading of 5.522 million.

Analysts had expected the number of job openings to rise to 5.568 million.

The report has garnered more attention despite the lag on the data, as Federal Reserve chair Janet Yellen cited the survey when assessing the state of the labor market.

Following the report, EUR/USD was trading at 1.0670 from around 1.0674 ahead of the release of the data, GBP/USD exchanged hands at 1.2379 compared to 1.2386 previously, while USD/JPY was at 112.45 from 112.42 earlier.

The US dollar index, which tracks the greenback against a basket of six major rivals, was at 100.57, compared to 100.56 ahead of the report.

Meanwhile, U.S. stock markets traded higher. The Dow 30 gained 0.38%, the S&P 500 rose 0.20%, while the Nasdaq Composite advanced 0.29%.

Elsewhere, in the commodities market, gold futures traded at $1,233.25 a troy ounce, compared to $1,232.95 ahead of the data, while crude oil traded at $52.13 a barrel from $52.14 earlier.

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