Challenger is reporting that they see the labor market starting to cool as the holiday season kicks off. They add:
- Employers are hiring at a slower clip
- Retailers have announced 55,755 job cuts through August
- US retailers will add 410K seasonal positions, which represents the lowest number of jobs added in the 1st quarter since 2008
Is the long-awaited job slow down about to begin? Yesterday initial jobless claims did not point in that direction with jobless claims remaining at a healthy 220K.