Outlook | September 21, 2023

Economic, Housing and Mortgage Market Outlook – September 2023

While overall economic growth has been resilient, the labor market shows signs of cooling off, with job openings down and job growth softening. The labor market slowdown may help reduce inflationary pressures.

Read MoreEconomic, Housing and Mortgage Market Outlook – September 2023

Exhibit 1: Employment revisions: difference between the third and first estimate of nonfarm payrolls - Bar chart showing the difference between the third estimate and the first estimate of total nonfarm payroll growth from January 2022 to June 2023. There have been downward revisions for every month in 2023, with June being the largest downward revision at -104,000.

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