You will never guess in which direction the September blowout 9.553MM jobs openings were revised

Also: Jobs data tends to lag, indicating the situation might be worse than the market currently anticipates.

Paradoxically, this is bullish for the near future as the market is eager to price in the cuts.

TLDR: Bad news is good news.

— Phoenix Capital (@PhoenixCapitalH) December 5, 2023

Job openings/S&P500

h/t Tonight We Ride!