Job Openings JOLTed the Market. And Revisions gone wild.

The July JOLTS Jobs report show job openings fell 176,000 to 7.181M $219,000 less than estimates.

Hiring rate remains low at 3.3%

Quits rate is also low at 2.0%.

FED Gov Christopher Waller said Fed should be cutting next meeting – end of September.

My take:

Labor market is showing its hand and when it does it goes quick. The Feds need to stay ahead of the pain and swallow the rate cut pill now.

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