“The job market is hot,” said Mark Zandi, chief economist of Moody’s Analytics.”Employers are aggressively competing to hold onto their existing workers and to find new ones. Small businesses are struggling the most in this competition, as they increasingly can’t fill open positions.”
The Dow Jones Industrial Average and the S&P 500 were little changed–down 30 points and 14 points respectively as of 11:00 a.m. ET. The tech sell-off in the Nasdaq Composite, however, continued as it slid 1% due to declines in Micron Technology as well as tech giants like Amazon and Apple.
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