US: Jobs Shocker

Still looking to the positives

We are set to see the US recover all of the lost output through the pandemic in the current quarter, but returning all the lost jobs is going to take many more months. As these structural rigidities ease we expect the see employment take-off and still forecast a December announcement of a QE taper with the risks skewed towards earlier Fed policy tightening than 2024.

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Disclaimer: This publication has been prepared by the Economic and Financial Analysis Division of ING Bank N.V. (“ING”) solely for information purposes without regard to any ...

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