US labor market – just a mirror image of the growth weakness |
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● Numbers. The closely-watched employment report scheduled for release next Friday should show that the US economy is still shedding jobs at a rapid pace. That at least is the message from our short-term model, based on the initial jobless claims and the employment component of the ISM Indices (pages 4-6). ● Forecast. These leading labor market indicators are, however, not really sufficient to make a medium-term payroll forecast. More suitable in this respect is the relatively new Employment
Filed under: Fundamental
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