Reported 28 days ago
The latest JOLTS report indicates a significant drop in job openings, the lowest since January 2021, and a slight increase in hiring rates, reflecting a cooling labor market. Economist Greg Daco emphasizes the importance of observing core labor market fundamentals as economic disruption factors like strikes and hurricanes may distort forthcoming employment data. He suggests that a gradual easing of monetary policy, potentially a 25 basis points rate cut at the Fed's next meeting, would be prudent in light of these trends.
Source: YAHOO