Job market is slowing, but not 'collapsing': Economist

The US S&P Global Composite Purchasing Managers Index for May grew to 54.4, its highest level in two years. Although manufacturing growth continues, theS&P Global Market Intelligence Chief Business Economist Chris Williamson joins Catalysts to discuss the state of the labor market and its connection to ongoing inflation issues.

At what point does that indicate a broader risk to this market that could stall some of the growth that we're seeing keeping fears about the economy at bay?It certainly looks like the service sector hiring trend is cooling quite markedly.We know there's a lot of investment going on in manufacturing at the moment, uh, expanding capacity, the Chips Act and the IRA.

But what I think the important takeaway here is that at the moment we still have this above trend inflation rate.And even if the labour market is slowing, those wage pressures remain elevated by pre panem standards.And that's why we continue to say, we just need the Goldilocks perfect amount of heat and coldness in all environments here.Seeking a reliable income stream for your TFSA? Consider this sustainable high-yielding dividend payer.

"Restaurants brought out the servings slowly and were like, 'Nobody is going to sit there for hours and just eat them.' Actually, lots of people did."Shares of e-commerce software platform Shopify jumped 5.4% in the morning session after Goldman Sachs analyst upgraded the stock's rating from Neutral to Buy and raised the price target from $64 to $74. The new price target represents a 25% premium from where shares traded when the upgrade was announced.

Source: News Formal (newsformal.com)

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