Hot to Not: Did the Job Market Shift? | S3 E132 | 03-31-26
Markets are reacting to another shift in labor market data, as signs of weakening demand for workers begin to emerge.
In this episode of Markets with Megan, Verdence CIO Megan Horneman breaks down the latest JOLTS (Job Openings and Labor Turnover Survey) report, which showed a sharp decline in job openings, the largest drop in 17 months. The data signals a cooling labor market, with 358,000 fewer openings and nearly 700,000 more unemployed Americans than available jobs.
Megan walks through what’s changing beneath the surface, including a drop in hiring rates to levels not seen since 2020 and a decline in the quits rate, suggesting workers are becoming less confident in job prospects. Weakness was seen across multiple sectors, including manufacturing, healthcare, and hospitality, though some of the softness may be influenced by seasonal factors like winter weather.
While this data points to labor market softening — something that could open the door for future Fed rate cuts — markets are also reacting to potential positive developments on the geopolitical front, adding another layer of complexity to investor sentiment.
Looking ahead, Megan highlights key upcoming data, including the March payroll report and retail sales, which will help determine whether consumer strength is holding up in the face of rising uncertainty.
📊 Is the labor market starting to crack, and what could it mean for Fed policy and markets? Watch now for Megan’s perspective.
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