Is the Labor Market Still Strong?

Mike Downey: The unemployment rate is a terrible way to measure the overall strength of the labor market. He says people who thought that they had enough cushion or running out the home equity loans are probably getting pretty close to top up and rates are going higher. "I tend to think that from a economic macro perspective that recession is baked in the cake, I'm not sure that the way we're measuring it is correct either," he said.

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