Matthew N Luzzetti

And it's at its highest level since January of 2025.

Matt Luzzetti is chief U.S. economist at Deutsche Bank.

Now, the Federal Reserve might look at this and say, OK, if the job market is fine, then maybe we won't ruin it if we raise interest rates, which we may want to do to fight inflation, which is definitely a problem.

So the labor market is not a reason to not raise rates at this point in time.