The November JOLTS report (Job Openings and Labor Turnover Survey) saw job openings come in slightly below estimates, ahead of Friday’s jobs report. Mizuho Securities USA Chief Economist Steven Ricchiuto joins Yahoo Finance Live to discuss expectations for the labor market in 2024.
Ricchiuto notes that current data shows the “labor market remains very, very tight.” He explains that workers getting fired and re-entering the job market are finding new jobs quickly, pointing to the tremendous amount of openings. This proves “the labor market is still hot,” Ricchiuto says.
“People really, really want the Fed [Federal Reserve] to cut interest rates,” he adds. However, with an average quarterly GDP growth rate of 3.5%, Ricchiuto calls this a “healthy economy” and says “the economy isn’t giving them that information” to justify rate cuts.
#JOBS #stockmarket #yahoofinance
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Huh?
I’m so glad this channel is growing so well, great to see a channel get the recognition they deserve.
Is it me or does that baby crib lower the credibility of this content?
Some companies are now hiring on merit rather than dei trash and they call this “job growth”
Part time job gains not full time job gains.