There's Not Going to Be a Sharp Downturn in Jobs, Says Lakshman Achuthan

Initial jobless claims were little changed in early-October, reinforcing the view that the labor market is cooling through slower hiring rather than rising layoffs. The report gives the Fed little reason to worry about an abrupt deterioration in employment, but it doesn’t ease broader concerns about weak job creation. Lakshman Achuthan, COO and co-founder at ECRI, gives his outlook on employment and reacts to inflation data. (Source: Bloomberg)

Initial jobless claims were little changed in early-October, reinforcing the view that the labor market is cooling through slower hiring rather than rising layoffs. The report gives the Fed little reason to worry about an abrupt deterioration in employment, but it doesn’t ease broader concerns about weak job creation. Lakshman Achuthan, COO and co-founder at ECRI, gives his outlook on employment and reacts to inflation data. (Source: Bloomberg)