Another Good JOLTS

(1) Fed Chair is no slacker, but worries a lot about slack. (2) JOLTS report and NFIB survey upbeat on jobs. (3) Ratio of unemployed to job openings down to 2.03. (4) More hires than fires, and plenty of quits. (5) Quitting is a good sign. (6) Yellen’s comfort zone for wage inflation is 3%-4%. (7) Wage inflation remains remarkably low around 2%. (8) Lots of Baby Boomers will retire. (9) Lots will keep working, providing a new source of labor, i.e., elderly workers.