Net Net: Promoting innovation and managing change
Net Net: Promoting innovation and managing change

About those blockbuster jobs reports: They're over

September jobs report disappoints

Evidence is mounting that the jobs recovery's best days are in the rear view mirror.

Recent Labor Department indicators show that the employment market is tightening, with both fewer job openings and workers willing to leave their current jobs for better environs.

The Job Opening and Labor Turnover Survey, released last week, adds to signs that the market is maturing, and signals to Wall Street that hopes for future blockbuster nonfarm payrolls reports should be tempered.

"Don't expect the employment situation report to print nonfarm payrolls above 200,000 going forward," market strategists at New York-based brokerage Convergex said in a report. "The last two readings fell below that threshold and, unless more highly educated individuals enter the workforce, it's likely to stay there."

Indeed, the most recent payrolls reports have been lackluster, to say the least.