U.S. Outlook: Labor market recovery not so fast & furious
We are starting to see a more sobering picture of the labor market.
For more on what this means and other economic developments this week, see my full analysis. Highlights are outlined below, followed by a link to the full U.S. Outlook report, delivered on April 10.Key observations:
- The goods-producing side of the economy is where the job weakness has surfaced.
- The recent softening in the labor market should push the rate hike from the Fed into September.
- A growth rebound is still the most likely course ahead for the U.S. economy.
- The Federal Reserve now thinks 5.0% or 5.1% may be the natural rate of unemployment, leaving us well shy of that mark today at 5.5%.
Click here to read my full report.