Math is hard. Explaining math with words is harder. Mortgages are a piece of cake to help a borrower understand compared to the reasoning behind 7th grade math that eludes my youngest child.
Today we had the JOLTS Report & Labor Survey which show that the available jobs needing to be filled fell from 7.91M last month to 7.67M this month. The expectation was for 8.09M openings. This means that fewer companies are hiring right now than was expected, which can be interpreted as a deceleration in the labor market.
We’ll see the ADP’s take on labor tomorrow, and the BLS Jobs Report on Friday. It will be a lot to take in. As the Fed has repeatedly stated that the labor market has been holding up the economy/rate of inflation, this timely information will be thoroughly ingested, debated, and pontificated about until the FOMC’s meeting on September 18th.
For now, interest rates continue at multi year lows. And like a revving engine waiting for the light to change, are eager to move lower when that light turns green.
