Topic
Net hiring intentions on the Marlowe Institute small business survey dropped to 8 per cent, and the firms reporting harder credit conditions are the same ones planning to shrink headcount. The transmission from the long end of the curve runs through here.
The Verity payroll panel shows private employment growth of 31,000 a month across the summer, with health care, utilities and defence adjacent contracting supplying almost all of it. The quits rate is back to 2016 levels.
Sixty day delinquencies in securitised subprime auto pools have risen for eleven straight months. The 2024 vintage is performing worse at the same age than the 2019 one did, and refinancing is not available to fix it.
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