Finally found the actual report now which is worth a look to see if there’s any clues ahead of the labour market report on Wednesday.

  • Job security falls to -7 from 0 in Sep
  • Prices last 12 months 59 vs 61 prior
  • Next 12 64 vs 66 prior
  • Interest rate expectations pushed back as index falls to 49 from 60

With the recently slumping data there’s a risk that could sour sentiment which in turn could start to impact on hiring. While this index isn’t a direct gauge it does show that confidence has dipped in employment expectations so this is a possible warning sign from Wednesday. If jobs start to suffer then that’s going to be the cherry on the cake for those pushing back rate expectations.