Is the US economy ‘unwell?’ We’re about to find out
After months of a remarkably strong US labor market and economy, everything seems to be slowing down.
The latest high-frequency data shows that the consumer could be running out of steam, hiring activity is moderating, business activity is softening, interest-rate sensitive sectors are pulling back and housing is suffering.
The question is whether Friday’s monthly jobs report, easily the most anticipated piece of data out this week, will confirm the trend.
The unflinching resilience of the US labor market is one of the greatest sources of tension in today’s economy....