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Follow up on firing's/hiring's and great color on the US service sector

Follow up on firing's/hiring's and great color on the US service sector

Peter Boockvar
Aug 03, 2023
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I'll start with the Challenger job cuts report as a follow up to the initial claims data where the pace of firing's is still pretty muted as measured by this stat. They said there was an 8% drop in the number of announced job cuts compared to July 2022 and said "The job market is remaining resilient in the face of rising interest rates, as consumers continue to spend and inflation falls. Companies, weary of letting go of needed workers, are finding other ways to cut costs. Many have slowed hiring, but wages continue to rise, particularly for the lowest-wage earners, for the moment." I bolded the words and see below what ISM and S&P Global reflected on about 'hiring.'

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