Labor market cracks getting 'too much attention': Strategist

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Max Kettner 뉴스

Labor Market

Initial jobless claims rose week-over-week to 258,000, higher than the 230,000 mark economists had expected. However, this increase could be attributed to...

Hurricane Helene and the East Coast port workers' strikes.Kettner argues that the print is"getting way too much attention."

Maybe about some of the weakness that we are seeing and and the cracks that are forming are they is is that almost not getting enough attention?Actually, I think when we look at the cracks, there's always gonna be cracks. So looking at the employment market for example, the national accounts data now is looking like in the last couple of quarters.All of this stuff has actually been revised higher in conjunction with also personal and private household savings, so even the savings rate is now much higher.Getting too much attention and what's not getting enough attention is how strong ready the US has been and continues to be from a sort of overall macro and growth backdrop.

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