Fed’s Goolsbee: On average it feels like the jobs market cooling from a very hot level

• 227K is a big number but need to look at averages
• Jobs market cooling to something like sustainable full employment, want to keep it there
• Last few months, jobs number feels like a sustainable, full employment pace
• Measurements like the ratio of vacancies to number of unemployed people show balance in the jobs market
• What happens with immigration will have a very significant impact on the size of the labor force

Also just now, Goldman Sachs’ chief economist Jan Hatzius was on CNBC saying he expects the Fed to cut in December.

This article was written by Adam Button at www.forexlive.com.