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This says it all when it comes to the economy in technology.

"Falling job openings, a subdued hiring rate, soft auto sales and activity flat or contracting in nine out of twelve regions according to the Fed’s Beige Book all make the case that the US economy is more likely headed for a recession than a soft landing:" Citi's Hollenhorst

Seasonal workers are laid off as students return to college, impacting the Job Openings and Labor Turnover Survey (JOLTS). Highlighting the focus on job openings data, which disappointed expectations in July. The shock news caused a un-inversion in the 2-year/10-year Treasury.

Adding further evidence of a decelerating US labor market, for-hire signs sunk to their most anemic level in 42 months. July job openings declined to 7.673 million, well below the median estimate of 8.09 million and June’s 7.91 million.

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