Strong US jobs report confounds economists

MoningStar/Lauren Solberg/2-6-2023

graphic image of investor confronted with endless doors

“Caldwell says that either jobs growth is being overestimated, economic growth is being underestimated, businesses are hiring aggressively into an imminent economic slowdown, or a mix of all three. ‘And if businesses really are hiring aggressively ahead of an economic slowdown, then business profits are about to take a nosedive, which will likely lead eventually to reduced hiring and layoffs,’ he says.”

USAGOLD note: Some offbeat analysis of the jobs report from Morningstar’s chief economist Preston Caldwell. It’s not so much what the numbers say, but what they portend.

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