I concur. My take:https://twitter.com/TheBizCyclist/status/992420877496209408 …
My grade for today’s payroll report is a big fat C-. Harsh, yes, given the apparent good news in the 3.9% u-rate, but this does not reflect job market strength as much as the symptom of an ever-depleted pool of labor (11-year low).
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With a participation rate of 62.8 percent, that is hardly the case(given the kind of numbers that we are used to seeing lately)!
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Always great to hear it straight. David would you start tilting portfolios towards hard assets..
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