Household Employment growth turned negative on a y/y basis for the first time since the COVID pandemic shook employment markets #MacroEdge #DrivenbyData
Only happened during recessions since 1953? Also in the modern era, it's usually lagged and only gone negative well inside recessionary environments.
This is the data that the FED is ignoring! This is why we need cuts badly!!! The labor market is in shambles right now.
What is the source of this number? We didn't get a negative job or unemployment number change.
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