How Uniswap reacted to the Job Openings and Labor Turnover Survey on 8 March 2023

Measured by Clometrix

Uniswap's volatility ratio was 4.44x, against 1.53x for a typical JOLTs Job Openings release since 2021. Its volume ratio was 6.16x, against a typical 2.40x. That is more than twice 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.

How Uniswap moved

Uniswap was at $6.270 when the figure came out. Fifteen minutes later it was 1.44% higher, and an hour later 1.59% higher. Its high-to-low range in the hour after was 2.55% of its price, against 0.96% in the hour before.

The release

Released by the Bureau of Labor Statistics on 8 March 2023 at 10:00 AM EST. The Job Openings and Labor Turnover Survey fell to 10.393M for January 2023, from 10.876M in December 2022.

What made it matter

Since 2021, JOLTs Job Openings releases in the two weeks before a Fed decision have moved Uniswap more than those at other times: a median volatility ratio of 1.77x across 25, against 1.52x across 44. This one came out 14 days before the Federal Reserve's 22 March rate decision. Its own ratio of 4.44x compares with 1.77x for those, so it moved the price more than its circumstances alone would suggest.

Its record

Across 69 JOLTs Job Openings releases since 2021, Uniswap's median volatility ratio is 1.53x.

How it compares

Across 69 JOLTs Job Openings releases since 2021, Uniswap's usual price swing is 1.53x. This one was 2.91 times the usual.

MutedOrdinaryStrongExceptional

Thin line: JOLTs Job Openings's usual, 1.53x. Thick line: this release, 4.44x.

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	6.30	6.24	6.29	0.32%	0.95%	0.32%	19,707 UNI
5 minutes	6.31	6.24	6.30	0.48%	1.11%	0.32%	48,214 UNI
10 minutes	6.32	6.24	6.32	0.79%	1.27%	0.32%	53,358 UNI
15 minutes	6.37	6.24	6.36	1.42%	2.04%	0.32%	66,595 UNI
30 minutes	6.37	6.24	6.35	1.26%	2.04%	0.64%	83,812 UNI
1 hour	6.40	6.24	6.37	1.57%	2.50%	0.95%	104,264 UNI
2 hours	6.40	6.24	6.33	0.95%	2.50%	2.04%	158,820 UNI
4 hours	6.40	6.24	6.27	0.00%	2.50%	2.80%	231,087 UNI
6 hours	6.40	6.23	6.31	0.63%	2.66%	2.95%	327,746 UNI
8 hours	6.43	6.24	6.27	-2.39%	2.95%	1.54%	535,856 UNI
12 hours	6.40	6.06	6.15	-1.95%	5.31%	3.55%	767,805 UNI

Every coin at this release

Coin	Price swing	Usual for JOLTs Job Openings	Reaction
Bitcoin	6.33x	2.22x	Exceptional
Ethereum	6.56x	2.00x	Exceptional
XRP	3.29x	1.58x	Exceptional
BNB	3.00x	1.77x	Strong
Solana	3.45x	1.81x	Strong
Dogecoin	4.34x	1.76x	Exceptional
TRON	3.71x	1.52x	Exceptional
Cardano	3.99x	1.66x	Exceptional
Chainlink	4.35x	1.71x	Exceptional
Bitcoin Cash	4.48x	1.81x	Exceptional
Hedera	3.55x	1.53x	Exceptional
Avalanche	4.87x	1.67x	Exceptional
Litecoin	4.56x	1.87x	Exceptional
Shiba Inu	3.78x	1.49x	Exceptional
Uniswap	4.44x	1.53x	Exceptional
Polkadot	4.12x	1.63x	Exceptional
Aave	4.63x	1.79x	Exceptional
NEAR Protocol	5.03x	1.57x	Exceptional
Aptos	5.07x	1.77x	Exceptional
Internet Computer	4.68x	1.69x	Exceptional
POL (prev. MATIC)	3.14x	1.82x	Strong
Filecoin	2.91x	1.50x	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.

Every JOLTs Job Openings release for Uniswap

Questions about this page

Is 4.44x a lot?

For a JOLTs Job Openings release it is exceptional: the usual is 1.53x. 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 Uniswap moved in after past JOLTs Job Openings releases, so you can plan for the likely size of the move.

What is the JOLTs report?

JOLTs is the Job Openings and Labor Turnover Survey published by the Bureau of Labor Statistics. It is released at 10:00 a.m. ET. Its median Bitcoin price swing since 2021 is 2.22x, which places it in Tier 2.

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.