Official “Labor Market Conditions” Give off First Warning Signs

by Wolf Richter
Wolf Street

Jobs metrics were immune to worsening economic malaise.

The official labor market metrics in the US — unemployment rate, number of jobs created, weekly unemployment insurance claims, etc. — have been immune to the worsening malaise visible elsewhere:

  • Total business sales have declined since mid-2014.
  • Business inventories have reached crisis levels.
  • Corporate earnings, no matter how financially engineered, have fallen four quarters in a row.
  • Productivity is down.

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