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Nonfarm Payroll Employment

Sep 08 2023

Labor Market Begins To Labor...

  • Sep 8, 2023

Most labor market measures continue to weaken, and for investors still heavily invested in stocks, we’d caution against waiting for all labor market figures to deteriorate before scaling back. Equities will likely take a big dive before such conclusive evidence arrives.

Jul 08 2023

Job Market Deja Vu

  • Jul 8, 2023

With leading economic measures still trending down, optimists who advocated against fighting the Fed during the free-money era have ditched their own advice. Their focus is now on lagging indicators, like the employment numbers—but that last bastion of strength seems ready to buckle.

Jun 07 2023

Even The Labor Market Looks Recessionary

  • Jun 7, 2023

We think the stock market is skating on pre-recessionary thin ice, an endeavor that, admittedly, can be both irresistible and (temporarily) profitable.

Aug 05 2022

Job Market Suddenly “Laboring”

  • Aug 5, 2022

We cringe when we hear the Treasury Secretary or a regional Fed bank president dismiss the possibility of recession on the basis of “low unemployment and strong job gains.” Those measures are as “laggy” as any economic statistics the government publishes.

Dec 06 2019

Lagging From Behind?

  • Dec 6, 2019

As Yogi Berra might have quipped, it’s not just the leading indicators that are lagging… the lagging ones are, too.

Nov 07 2017

Below “Stall Speed”?

  • Nov 7, 2017

The last few months have served up some of the strongest readings observed during the U.S. economic expansion.