FED RATE HIKE CASE JUST GOT A BIT WEAKER. Today, JOLTs Job openings and job quits data were released. JOLTs job openings came in at 7.079M, lower than expected, while JOLTs job quits came in at 3.06M, higher than July's data. This means more people left the job while the hiring got slower, a classic sign of softening labor demand. But this alone won't decide the Fed's decision. On Friday, the US unemployment data will be released, and if it goes higher, the Fed will be forced to pause rates, as hiking during a weakening labor market could cripple the economy.