FBNY: SCE Labor Market Survey Shows Sharp Increase in Job Seekers
Labor market further weakens as CPI ex-shelter collapses
The 2024 revision of U.S. nonfarm payrolls are out: -818,000. It's the largest downward revision since the financial crisis.
To add insult to injury, The Federal Reserve Bank of New York (FBRNY) SCE labor market survey piggybacks the Philly Fed's CES report, I mentioned here, with mounting evidence of labor market slowdown.
Sharp increase in the proporti…