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Job Openings down,

Wednesday, October 12, 2016 7:27
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(Before It's News)

MBA Mortgage Applications (week ended 10/7/2016)

– Purchase Index Week/Week -3.0%. Previous weeks were -0.1%, +1.0%, -7.0%, +9.0%, +1.0%, +1.0%, -0.3%, -4.0%, +3.0%, -2.0%, -3.0%, -2.0%, and +0.0%.
– Refinance Index Week/Week -8.0%. Previous weeks were +5.0%, -2.0%, -8.0%, +2.0%, +1.0%, +4.0%, -3.0%, +10.0%, -3.0%, -15.0%, -1.0%, +11.0%, and +21.0%.
– Composite Index Week/Week -6.0%. Previous weeks were +2.9%, -0.7%. -7.3%, +4.2%, +0.9%, +2.8%, -2.1%, +7.1%, -3.5%, -11.2%, -1.3%, and +7.2%.

Higher rates are affecting refi applications.

JOLTS (August 2016)

– Job Openings 5,443,000. Previous was 5,831,000

This is the Labor Department’s Job Openings and Labor Turnover Survey. This is a broad measurement of movement into, out of, and within the labor market. While media concentrates on
weekly unemployment claims and net jobs, JOLTS is important because it includes people who quit to get a better job. This job mobility is as valid an indicator of the health of the jobs
market as any other.

Job openings decreased in a number of industries, with the largest changes occurring in professional and business services (-223,000), durable goods manufacturing (-29,000), and arts,
entertainment, and recreation (-28,000).

The weak Job Openings data follows a weak Labor Market Conditions Index yesterday and a very week BLS Jobs Report last Friday.

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