JOLTS (Job Openings and Labor Turnover Survey) came in lower than expected, with numbers falling from the anticipated 8.1M to 7.7M.
At some point, actual jobs will be affected. Remember, this is the Job Openings number—another datapoint the Fed is closely watching.
The quit rate was reported at 2.1%, the same as last month and the lowest level since 2018 (excluding COVID data).
ADP Employment and Initial Jobless Claims are set to be released tomorrow, with the BLS Jobs Report coming out on Friday. Friday’s report could be the deciding factor that pushes the Fed towards a 50 basis point cut on the 18th.
That’s just my perspective, but it’s what we’re expecting.
Mortgage bonds have reacted positively this week, and we expect this trend to continue.
Remember, our team offers a soft credit pull. Let’s get your application tuned up and ready for a refinance or purchase.
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