Payroll Data Confirmed The Worst-Case Scenario

The June employment report significantly missed expectations, signaling that a worst-case payback for the labor market is now unfolding.

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Source: DepositPhotos

There is no way to spin this, not that everyone won’t try. The June employment report did not just come in weak or just miss expectations. It wasn’t a little cooling after a decent stretch. No — the June jobs report strongly suggests the worst-case payback for the labor market is now unfolding.
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