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The US Labor Market is Dead, Long Live the US Labor Market
While economists have been lowering their employment forecast month over month over month, the US labor market has continued to disappoint those forecasts and has remained relatively strong as well as relatively stable, with jobs growing at an average of 392,000 per month during 2022. November did not disappoint this trend, although it disappointed economists and probably the Federal Reserve (Fed), as the Fed needs to see the labor market weaken considerably in order to put an end to the increases in the federal funds rate. Furthermore, markets are going to be disappointed because they have been ‘fishing’ for ... (full story)