How NEAR Protocol reacted to the Job Openings and Labor Turnover Survey on 2 May 2023

The release

Released by the Bureau of Labor Statistics on 2 May 2023 at 10:00 AM EDT. The Job Openings and Labor Turnover Survey fell to 9.572M for March 2023, from 9.846M in February 2023.

Measured by Clometrix

NEAR Protocol's volatility ratio was 1.01x, against 1.57x for a typical JOLTs Job Openings release since 2021. Its volume ratio was 2.31x, against a typical 2.25x. Under 1.5x is not a reaction at all: the market barely noticed this release. 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 NEAR Protocol moved

NEAR Protocol was at $1.820 when the figure came out. Fifteen minutes later it was unchanged, and an hour later 0.55% higher. Its high-to-low range in the hour after was 2.2% of its price, against 0.55% in the hour before.

What made it matter

Since 2021, JOLTs Job Openings releases in the two weeks before a Fed decision have moved NEAR Protocol about as much as those at other times: a median volatility ratio of 1.57x across 25, against 1.56x across 42. This one came out the day before the Federal Reserve's 3 May rate decision. Its own ratio of 1.01x compares with 1.57x for those, so it moved the price less than its circumstances would suggest.

How it compares

Across 67 JOLTs Job Openings releases since 2021, NEAR Protocol's usual price swing is 1.57x. This one was 0.64 times the usual.

MutedOrdinaryStrongExceptional

Thin line: JOLTs Job Openings's usual, 1.57x. Thick line: this release, 1.01x. Under 1.5x counts as no reaction at all.

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	1.82	1.82	1.82	0.00%	0.00%	0.00%	10,997 NEAR
5 minutes	1.82	1.81	1.82	0.00%	0.55%	0.00%	32,152 NEAR
10 minutes	1.82	1.81	1.82	0.00%	0.55%	0.00%	53,762 NEAR
15 minutes	1.82	1.81	1.82	0.00%	0.55%	0.00%	68,984 NEAR
30 minutes	1.84	1.81	1.84	1.09%	1.63%	0.55%	150,983 NEAR
1 hour	1.85	1.81	1.83	0.55%	2.16%	0.55%	420,139 NEAR
2 hours	1.85	1.81	1.84	1.09%	2.16%	1.09%	686,615 NEAR
4 hours	1.85	1.81	1.84	1.09%	2.16%	1.09%	1.136M NEAR
6 hours	1.85	1.81	1.84	1.09%	2.16%	1.63%	1.481M NEAR
8 hours	1.85	1.81	1.84	1.09%	2.16%	1.63%	1.647M NEAR
12 hours	1.85	1.81	1.82	0.00%	2.16%	1.63%	2.288M NEAR

Every coin at this release

Coin	Price swing	Usual for JOLTs Job Openings	Reaction
Bitcoin	2.18x	2.22x	Ordinary
Ethereum	2.09x	2.00x	Ordinary
XRP	2.93x	1.58x	Strong
BNB	2.58x	1.77x	Strong
Solana	2.29x	1.81x	Ordinary
Dogecoin	3.81x	1.76x	Exceptional
TRON	2.90x	1.52x	Strong
Cardano	2.65x	1.66x	Strong
Chainlink	2.54x	1.71x	Strong
Bitcoin Cash	2.01x	1.81x	Ordinary
Hedera	1.52x	1.53x	Ordinary
Avalanche	2.64x	1.67x	Strong
Litecoin	2.03x	1.87x	Ordinary
Shiba Inu	1.34x	1.49x	Quiet
Uniswap	3.02x	1.53x	Strong
Polkadot	2.04x	1.63x	Ordinary
Aave	2.01x	1.79x	Ordinary
NEAR Protocol	1.01x	1.57x	Quiet
Aptos	1.78x	1.77x	Ordinary
Internet Computer	1.68x	1.69x	Ordinary
POL (prev. MATIC)	2.35x	1.82x	Ordinary
Filecoin	2.03x	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 NEAR Protocol

Questions about this page

Is 1.01x a lot?

No. Under 1.5x the market barely noticed the release.

Will the next JOLTs Job Openings do the same?

Nobody can say. A forecast shows the range NEAR Protocol 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.