Barclays says there are "cautious warning signals" the US labor market is cooling

<p>Federal Open Market Committee (FOMC) rate hikes seeping through the jobs markets it would seem. Barclays say they have assessed:</p><ul><li>Alternative data from US employee profiles send cautious warning signals that the US labor market is not as strong as it was last year</li><li>the total tally of employees from our alternative data appears to have peaked in Jan′23, and has declined slowly since</li><li>In fact, net inflows for various job categories have turned negative for a few categories and have been growing less strongly in others</li></ul><p>Barclays say that there is a “reluctance” by firms to hire, or fire, workers, and further that workers are unwilling to quit their current jobs.</p><p>-</p><p>A cooling jobs markets has implications for the Federal Reserve ahead, blessing the pressure for 'higher for longer'. </p>

This article was written by Eamonn Sheridan at www.forexlive.com.