Latest Jobs Data

Market Overview
Read time 0.8 minutes

Year To Date Performances:

1. The latest jobs data indicates a healthy labour market. ADP reported that nearly half a million new jobs were created in June, surpassing expectations. The services sector played a significant role in driving this growth. Job openings decreased slightly in May, but the ratio of vacancies to unemployed workers remained elevated compared to pre-pandemic levels. While initial claims rose slightly, continuing claims dropped to their lowest level in five months. Overall, these figures reflect a positive trend in the labor market.

2. According to Vanda Research, retail investors are currently exhibiting high levels of bullishness, with their exposure reaching "max bull" levels. This sentiment is further supported by the latest AAII numbers, which indicate that bullish sentiment among individual investors has risen to the highest level since November 2021. In contrast, the NAAIM Exposure Index, which tracks the active manager exposure to US equities, has experienced a decline over the past month, dropping from 90 to 83. This suggests that institutional investors have reduced their exposure to US equities during this period.

3. Achieving SOC 2 compliance proves to customers that you prioritize protecting their data. This proof of observation can help you raise capital, scale your business, and rise above the competition. 

   Vanta’s SOC 2 checklist breaks down the process and gives you a digestible view of the road ahead. Download it here to get started.*

4. Headlines

   1. Oil prices increased for the second consecutive week as crude stockpiles fell for the third week.

   2. Twitter is suing Meta for hiring away its employees and using Twitter’s trade secrets to build its competitor.

5. _{* This is sponsored content}