SFY - February Jobs Report: A Blowout

Headlines:

• +273,000 jobs added.
• U3 unemployment rate declined -0.1% to 3.5%.
• U6 underemployment rate rose 0.1% to 7.0%.

Leading employment indicators of a slowdown or recession

I am highlighting these because many leading indicators overall have strongly suggested that an employment slowdown is here. The following more leading numbers in the report tell us about where the economy is likely to be a few months from now. These were mixed to slightly negative:

• The average manufacturing workweek rose 0.2 hours to 40.6 hours. This is one of the 10 components of the LEI and will

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