The labor market is weakening, but the bulls prefer to say it is “normalizing.” While the latest tally of 7.7 million job openings is impressive, the last two-years’ decline seems too steep and too persistent to be called “normalization.” The slowdown also leaves the payroll-employment growth rate perilously close to the 1.4% economic stall speed seen at the outset of all but one previous recession.
Sep
09
2024
Employment: Normalizing Or Stalling?
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