Labor Market Stays Hot as Job Openings Tempt Sidelined Workers
- Labor market remains very tight - workers fired are quickly finding new jobs due to high job openings
- Participation rate going up as people come in off sidelines to take new jobs
- Initial unemployment claims data shows labor market is still hot
- People want Fed to cut rates but economy growing at healthy 3.5% average quarterly GDP rate
- Fed unlikely to cut rates soon as economy not signaling need for rate cuts