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Clarifying Where We are in the Business Cycle
A shiver of foreboding moved through the consensus earlier this month as the latest jobs data confirmed for the mainstream that renewed job market weakness was more than a “blip,” a realization that ECRI has been predicting for some months now.
Moving beyond the broad labor market downtrend, ECRI’s latest report presents clear cyclical patterns within the jobs data that underlay the overall move – helping to clarify where we are in the business cycle.