The US employment situation summary for February showed an improving labor market with 236,000 jobs created and unemployment down to 7.7%. These numbers are indicative of an improving labor market and reflect the likelihood that the US will continue its economic expansion.
A lot of ink has been spilled on these numbers, so I don't want to repeat what has already been said. Expect me to put a number of posts into the links on the numbers. Last month I showed you a chart which indicated that employment was increasing at a slowing pace, indicating that we were in the midst of a mid-cycle slowdown or a decline into a cyclical trough.
In past economic cycles, when we see the year-on-year change in the number of employed persons fall at such a rapid pace, it does not always mean recession....
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Edward Harrison is the founder of Credit Writedowns and a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He has also been a regular economic and financial commentator in print and on television for the past decade. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.