The release
Released by the Bureau of Labor Statistics on 6 March 2024 at 10:00 AM EST. The Job Openings and Labor Turnover Survey fell to 8.468M for January 2024, from 8.585M in December 2023.
How Solana moved
Solana was at $127.17 when the figure came out. Fifteen minutes later it was 0.57% lower, and an hour later 0.83% higher. Its high-to-low range in the hour after was 2.79% of its price, against 2.56% in the hour before.
Measured by Clometrix
Solana's volatility ratio was 1.67x, against 1.81x for a typical JOLTs Job Openings release since 2021. Its volume ratio was 2.08x, against a typical 2.37x. That is about what this release usually does. Both compare the quarter hour of the release with an ordinary quarter hour that same day, where 1.00x is no change: volatility is how far the price ranged, volume how much traded.
What made it matter
Since 2021, JOLTs Job Openings releases in the two weeks before a Fed decision have moved Solana more than those at other times: a median volatility ratio of 2.22x across 26, against 1.70x across 44. This one came out 14 days before the Federal Reserve's 20 March rate decision. Its own ratio of 1.67x compares with 2.22x for those, so it moved the price less than its circumstances would suggest.
Its record
Across 70 JOLTs Job Openings releases since 2021, Solana's median volatility ratio is 1.81x.
How it compares
Across 70 JOLTs Job Openings releases since 2021, Solana's usual price swing is 1.81x. This one was 0.92 times the usual.
Thin line: JOLTs Job Openings's usual, 1.81x. Thick line: this release, 1.67x.
Minute by minute
Each row is the time after the release, with the same length of time before it for comparison.
| After | High | Low | Close | Change | Range | Range before | Volume |
|---|---|---|---|---|---|---|---|
| 1 minute | 127.61 | 127.16 | 127.46 | 0.23% | 0.35% | 0.27% | 6,863 SOL |
| 5 minutes | 127.63 | 126.24 | 126.47 | -0.55% | 1.09% | 0.87% | 44,479 SOL |
| 10 minutes | 127.63 | 125.33 | 125.83 | -1.06% | 1.80% | 1.03% | 149,783 SOL |
| 15 minutes | 127.63 | 125.33 | 126.44 | -0.58% | 1.80% | 1.58% | 200,645 SOL |
| 30 minutes | 127.88 | 125.33 | 127.42 | 0.20% | 1.99% | 1.84% | 331,941 SOL |
| 1 hour | 128.88 | 125.33 | 128.22 | 0.82% | 2.75% | 2.52% | 544,156 SOL |
| 2 hours | 129.60 | 125.33 | 129.28 | 1.63% | 3.29% | 2.59% | 895,867 SOL |
| 4 hours | 130.36 | 125.33 | 130.19 | 2.32% | 3.86% | 4.96% | 1.439M SOL |
| 6 hours | 132.00 | 125.33 | 131.31 | 3.15% | 5.05% | 5.05% | 1.925M SOL |
| 8 hours | 132.71 | 125.33 | 130.19 | -0.41% | 5.56% | 11.02% | 3.703M SOL |
| 12 hours | 141.17 | 125.33 | 141.06 | 9.85% | 11.22% | 11.02% | 4.69M SOL |
Every coin at this release
| Coin | Price swing | Usual for JOLTs Job Openings | Reaction |
|---|---|---|---|
| Bitcoin | 2.27x | 2.24x | Ordinary |
| Ethereum | 2.41x | 2.05x | Ordinary |
| XRP | 2.60x | 1.59x | Strong |
| BNB | 2.04x | 1.78x | Ordinary |
| Solana | 1.67x | 1.81x | Ordinary |
| Dogecoin | 1.47x | 1.77x | Quiet |
| TRON | 2.11x | 1.52x | Strong |
| Cardano | 1.77x | 1.69x | Ordinary |
| Chainlink | 2.39x | 1.75x | Strong |
| Sui | 3.09x | 1.93x | Strong |
| Bitcoin Cash | 2.28x | 1.84x | Ordinary |
| Hedera | 1.91x | 1.54x | Ordinary |
| Avalanche | 2.55x | 1.71x | Strong |
| Litecoin | 2.60x | 1.90x | Strong |
| Shiba Inu | 1.17x | 1.49x | Quiet |
| Uniswap | 1.22x | 1.55x | Quiet |
| Polkadot | 1.78x | 1.65x | Ordinary |
| Aave | 1.99x | 1.80x | Ordinary |
| NEAR Protocol | 1.34x | 1.59x | Quiet |
| Aptos | 1.68x | 1.77x | Ordinary |
| Internet Computer | 2.59x | 1.69x | Strong |
| POL (prev. MATIC) | 2.04x | 1.84x | Ordinary |
| Filecoin | 2.24x | 1.51x | Strong |
What is the Job Openings and Labor Turnover Survey?
The job openings and labor turnover survey (JOLTS) is a monthly report by the Bureau of Labor Statistics (BLS) of the U.S. Department of Labor counting job vacancies and separations, including the number of workers voluntarily quitting employment. The BLS surveys more than 20,000 businesses and government offices to estimate the numbers of U.S. job vacancies, hires, and separations included in the monthly jobs report. The job separations numbers are subdivided into three categories: quits, or voluntary resignations; layoffs and discharges; and other separations, which include deaths and retirements. The number of vacancies is a widely followed indicator of labor demand, while the quits rate is partly a function of employment demand. Job hires and separations can be used to gauge labor turnover.Questions about this page
Is 1.67x a lot?
For a JOLTs Job Openings release it is ordinary: the usual is 1.81x. Each report has its own usual size, and its releases show it.
Will the next JOLTs Job Openings do the same?
Nobody can say. A forecast shows the range Solana moved in after past JOLTs Job Openings releases, so you can plan for the likely size of the move.
Disclaimer
The data analysis, forecasted results and projections provided herein are based on historical price action and market trends. While every effort has been made to ensure the accuracy of the information, these predictions are speculative and should not be considered a guarantee of future performance. Market conditions can change rapidly, and past performance is not indicative of future results. Trading and investing involve significant risk, and you should conduct your own research and consult with a licensed financial advisor before making any investment decisions. We do not assume any liability for any losses that may result from reliance on this information.