
What the Hell Just Happened?
Real Vision: Finance & Investing
Residential Construction Payrolls - When Is the Recession Going to Happen?
An 8% to 10% decline in residential construction payrolls, pre-sages, every recession. That's the number one thing on your dashboard that you're looking at. Those construction layoffs generally lead overall non-farm payroll layoffs by about four months historically through the cycle. And we've seen some cracks forming there, but we haven't seen any layoffs yet.
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