Job Openings Are Rising, but Hiring Is the Slowest Since 2013. But How?

Impact · against what's priced in

The labor market data presents a mixed outlook for the S&P 500, where strong job openings and low layoffs support near-term consumer spending, but a decade-low hiring rate threatens long-term GDP expansion. While the current stability is a positive for earnings, the disconnect between openings and actual hires suggests a structural drag on growth.

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In context

Low layoffs (1.641 million) and higher-than-expected job openings (7.523 million) support the consumer spending that drives earnings, though the slowest hiring rate since 2013 creates a growth ceiling.

Read from the article alone

• inflation
• SPY
• rates
• fed
• economy
• hiring
• job openings
• labor market
• layoffs
• treasury yields
• unemployment