We don't have a non-farm payrolls report to digest today but the jobs market is clearly weakening. A good measure of that is job postings from Indeed.
This index is only 5 years old so that track record is mixed but it's turned lower lately as part of a steady deterioration. The question for the Fed is whether we can really have a low-hiring/low-firing economy or if the lack of hiring is a precursor to layoffs.
