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JOLTS Report Shows Signs Of Slowing Job Market

on March 12, 2014

Swiss America

Gold prices higher on safe-haven buying as traders keep an eye on Ukraine. U.S. stocks end lower, Nasdaq declined for 4 straight days. Gold last traded at $1,346 an ounce. Silver at $20.82 an ounce.

There are fresh signs this morning that the US job market is indeed slowing down and as a result, all three major US stock indices are down this morning.

The Bureau of Labor Statistics’ JOLTS Report did not paint a pretty picture. JOLTS stands for “Job Openings and Labor Turnover Summary” and it is one leading edge measure of the employment market watched by new Fed Chair Janet Yellen.

Job openings came in at 3.974 million, below the 4.015 million most economists expected. Meanwhile, the number of layoffs and discharges rose to 1.74 million in January from a recent bottom of 1.51 million in November. In addition, there were 4.54 million hires in January, below…

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