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In the context of a gradually cooling labor market on the cusp of a soft landing, today’s JOLTS report is about as good as can reasonably be expected. Layoffs remained low and openings ticked up alongside quits — signs that employer and job seeker confidence, respectively, are improving. The hires rate ticked down, likely reflecting temporary, hurricane-related disruptions in October, and the increase in openings and quits should be expected to translate into more hires going forward. These kinds of small steps in the right direction are what we want to see as the market comes in for a landing