Surveillance: US Payrolls Crush Estimates
Bloomberg Surveillance
00:00
How Hard Is It to Get to Recession With a Labor Market Report Like What We Just Got?
Average hourly earnings is a hard one to anchor on because it's so subjective. Part of what you saw in the internals of today's labor report is a little bit less boost from leisure and hospitality, a little bit more spread. No one doubts that peak inflation has occurred. Inflation is declining. The shelter piece is going to decline and help push everything down.
Play episode from 10:42
Transcript
