US: Macro Since March FOMC - Labor: No Sign Of Deterioration In Claims (3/3)

* The other main labor releases saw JOLTS job openings as expected for

  February, with relatively little change in outright openings seeing a
  resumption of a decline in the ratio to unemployed after a strong rise in
  unemployment in that month.

* The quits rate further consolidated the prior sizeable decline, rounding to

  2.2% for a fourth consecutive month below the 2.3% averaged in 2019, an
  indicator further flashing a return to pre-pandemic labor market conditions
  even if vacancy ratios aren't there yet.

* Jobless claims data meanwhile have shown little sign of a deterioration in

  labor market conditions. The four-week average of initial claims tracks below
  average 2019 levels, a barometer of prior labor market tightness, whilst
  continuing jobless claims are keeping to their narrow range seen since the

annual revisions to the seasonal factors.