Job Openings

There are still a lot

The other day, a new monthly read for job openings came out:

If you look carefully, you can see a small uptick in the most recent month. Meaning, companies are posting even more jobs than the month prior.

The market didn’t like that (among other things) because it means continued resilience in the labor market. Continued resilience means more room to push rates higher. And, higher rates means more pain for stocks. A less accommodative Fed.

It does seem a bit backwards, that a positive labor market signal would be bad for stocks. But, the positive signals are no match for the Fed. If they want to tighten the screws, that’s all the matters.