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‘Government And Friends’
One bank sees recession canaries in the US jobs data. And I don't mean the unemployment rate or anyone's namesake "rule."
"Private sector jobs are <40% of total hiring," BofA observed, in this week's installment of Michael Hartnett's popular "Flow Show" series.
Hartnett's away again this week, but Flow Show struck familiar thematic chords in his absence. The figure below illustrates declining participation (there's a bad labor market joke in there) for private sector employers outside of ed
A.I.
First slowly then quickly.
High interest rates and small business sentiment.
Soft landings will not be soft for everyone.
There are makers, takers and drones.