The latest JOLTS data (Job Openings and Labor Turnover Survey) shows some resilience in the labor market as job openings increase. Deutsche Bank chief US economist Matthew Luzzetti joins Market Domination to give insight into the latest jobs data and what it means for the labor market, housing, and equities moving forward.
"I think if you look at this morning’s JOLTS data, you mentioned job openings were higher, actually the hiring rate had picked up, the quits rate has stabilized at somewhat lower levels over the past six months. But all that together does suggest that after softening over the past six months or so, you’re seeing a labor market that is stabilizing at this point in time. For Friday, we expect that you see jobs added about 200 – 225,000. The unemployment rate remains steady at 4%, but actually risks that that could round down to 3.9%," Luzzetti tells Yahoo Finance.
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