America's retirement system is not even close to best in class. First, the bond market is up smartly this morning, bringing the 10-year interest rate down to 4.61 percent. It was up at 5% middle of last month.

Some of this now is realization

that the job market is losing steam,

not just jobs created, but if you look carefully,

the hours were getting

Drew Mattis chief market strategist at MetLife Investment

Management says labor markets are looking weaker than many

acknowledge.

Particularly when you look at average weekly earnings, a lot of focus on that wage number and how high wages are,

but the simple fact of matters is people are working less in most sectors.

When you take the amount of time they're being given to work

times a higher wage, they're still coming up short and in fact last month more the

sectors showed declines than showed gains in average weekly earnings.

All right, so if you're the bond market, you're excited because that implies less inflation,

but if you're out there actually working for a living, this is a real sign of precarity, I guess is the word.

Even if you were lucky and you held your wages constant for the month, price is still one off. You have a job but you're

working a little bit fewer hours and you know it's getting harder and harder to

square the circle and kind of make sure that you can take care of your family and

pay for everything else you want to do.

All right, Drew Mattis.

The federal government is set to run out of money and shut down in 10 days.

This unless Congress approves a temporary spending measure that President Biden will sign before November the 17th.

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