All major buckets of jobs are showing declining growth.
The labor market slowdown has been extremely slow, particularly through the cyclical sectors that have experienced labor hoarding issues.
Interestingly, service sector jobs growth has cooled sharply in recent months. pic.twitter.com/ffcIIbzpUm
— Eric Basmajian (@EPBResearch) October 4, 2023
How many name changes will they go through before they call it a recession?
This marks number 1. pic.twitter.com/6q1vzEtV9j
— Swordfishvegetable (@Swordfishv44183) October 5, 2023
We keep seeing this pattern: mid-year bounce which got everyone thinking soft landing melted disastrously in the summer. ADP managed to completely erase the absurd shit w/job openings yesterday. Apparently, large companies cut 83k jobs.t.co/bzQDDykYs1 pic.twitter.com/cnBdKExkgA
— Jeffrey P. Snider (@JeffSnider_AIP) October 5, 2023
ISM's services PMI declined largely because new orders index plummeted to just 51.8, second worst since 2020. t.co/bzQDDykYs1 pic.twitter.com/T6wKxKVNsr
— Jeffrey P. Snider (@JeffSnider_AIP) October 5, 2023
🇺🇸 Recession
With the growing reluctance of banks to provide loans to consumers, there is a concerning implication for the state of the US economy
👉 t.co/m11iBkSWhch/t @DeutscheBank #credit #consumers #consumer#recession #recessions #banking #loan #loans #banks pic.twitter.com/2VwsIYH456
— ISABELNET (@ISABELNET_SA) October 5, 2023
Housing is likely already in #recession, new home sales plummet 8.7% m/m, was expecting this drop with the weak NAHB print.
Employment will follow in Q4/1 I anticipate. pic.twitter.com/k8vlAve1Zw
— Don Johnson (@DonMiami3) September 26, 2023