Mark Hamrick and Brian Jacobsen share takeaways from this week’s labor data, with the monthly report delayed to next week due to the partial government shutdown. Brian digs into the ISM numbers, highlighting new orders staying “pretty strong, if not improving.” However, he thinks we might see the employment report revised down further next week. Mark notes that employment data has been “routinely downbeat” over the last few months. He points out that the ratio of those seeking work and job openings is no longer 1:1, with unemployment growing faster than job creation.

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