Labor Market Recap May 2024: Still Cool
The totality of the evidence points more towards a cooling (but still good!) labor market than heating up, despite the payroll prints.
The totality of the evidence points more towards a cooling (but still good!) labor market than heating up, despite the payroll prints.
After what appeared to be (on the surface and at first glance) a hot January, the labor market data for February 2024 signaled a return to the narrative we followed throughout last year: the labor market is slowing, but remains strong.
In December, the labor market risks shifted further over towards unemployment.
After a somewhat worrying October report, November’s labor market data shows lower recession risk.
The labor market is really softening now.