OK, we’re not breaking out the champagne just yet, but… we might kinda sorta be seeing the beginnings of a jobs recovery.
First, there was the August jobs report, that was clearly better than expectations (which was coupled with nice revisions to previous months).
Then there was the recent ISM report, and as Mike O’Rourke of BTIG notes, the employment component registered the biggest gain in 37 years.
And now we’ve had a pretty nice string of weekly claims reports that are better than what we’ve been seeing previously.
If nothing else, at least temporarily, the rot has stopped.
Don’t miss: 10 key details from the August jobs report >