JOLTS Report – Job Openings and Labor Turnover Survey

The latest JOLTS report showed hiring fell by 275,000, coming in 113,000 below expectations. The hiring rate declined from 3.4% to 3.3%, marking the lowest level since 2013 (excluding the COVID period). This points to a clear slowdown in hiring activity.

Quits rate also remained low at 2% meaning less people changing jobs.

Markets responded accordingly, with interest rates moving lower on the news.

Consumer Confidence: Feeling Good… Kinda

Consumer confidence rose from 95.2 to 97.2 a 2-point boost! 🎉

But before we throw a parade, the expectations component is still dragging below 80.

Translation? Americans are basically saying:
“I feel good today… but ask me about next week and I’ll be hiding under my desk with snacks.”

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