The latest labor market report appears to support the unemployment rate (buoyed), but that improvement is driven by a reduced labor force—consistent with the pattern seen in April. This leaves the macro signal “confused,” limiting conviction that underlying labor demand is strengthening.
The latest labor market report appears to support the unemployment rate (buoyed), but that improvement is driven by a reduced labor force—consistent with the pattern seen in April. This leaves the macro signal “confused,” limiting conviction that underlying labor demand is strengthening.
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Request DemoOverall Sentiment
mixed
Sentiment Score
-0.15
