WS #16775
The September JOLTS report revealed 7.523 million job openings, beating the 7.10 million estimate and signaling persistent labor demand that complicates the Federal Reserve's inflation outlook. Concurrently, the Bank of France indicated it will likely lower its 2026 growth forecast, reflecting broader European economic stagnation. This divergence between a resilient US labor market and slowing European growth reinforces the hawkish bias for US rates while highlighting the uneven nature of the global economic recovery.
Macro Labor and Growth Data
The September JOLTS report revealed 7.523 million job openings, beating the 7.10 million estimate and signaling persistent labor demand that complicates the Federal Reserve's inflation outlook. Concurrently, the Bank of France indicated it will likely lower its 2026 growth forecast, reflecting broader European economic stagnation. This divergence between a resilient US labor market and slowing European growth reinforces the hawkish bias for US rates while highlighting the uneven nature of the global economic recovery.