Awful Jobs Report Makes Recession More Difficult to Deny

Three consecutive months of job losses means recession, argues Capital Spectator:

Strong relationships exist between the employment data and virtually every other economic indicator,” advises Richard Yamarone, director of economic research at Argus Research, in his book The Trader’s Guide to Key Economic Indicators. “The growth rate of nonfarm payrolls, for instance, is strongly correlated with the growth rate of GDP, industrial production and capacity utilization, consumer confidence, spending, income–even with Federal Reserve activity. If it’s relevant to economic activity, it will have links with the payrolls data.

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