Bloomberg Economics out with a jarring report, saying monthly nonfarm payroll prints likely overstated job growth last year by 730,000.
When labor demand weakens even as supply continues to increase with migration - we could see the unemployment rate rise faster than the Fed expects. I don't know if it's this week (the May jobs report is on Friday), but it's coming.
That is the path for cuts, and for everything to surge.
Adamsmithstwit
npub1w3u…8kqt
2024-06-04 18:10:32
Author Public Key
npub1w3uadgq5r0t6mgwt0wtr9vkmwuhpwdy6lf0k430rkhplku4s6y8skh8kqtPublished at
2024-06-04 18:10:32Event JSON
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"content": "Bloomberg Economics out with a jarring report, saying monthly nonfarm payroll prints likely overstated job growth last year by 730,000.\n\nWhen labor demand weakens even as supply continues to increase with migration - we could see the unemployment rate rise faster than the Fed expects. I don't know if it's this week (the May jobs report is on Friday), but it's coming.\n\nThat is the path for cuts, and for everything to surge.",
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