The clearest sign yet that job growth in the US is about to slow down

US job growth has been rolling for most of the last two years.

In December the economy added 292,000 jobs with average job gains over the 3 months ending in December totaling 284,000.

But this pace looks set to slow down.

On Monday, the latest Senior Loan Officer Opinion Survey indicated that credit conditions across the economy were tightening, a sign that businesses could be facing more challenges to get additional funding could potentially put hiring plans on hold.

In a note to clients on Wednesday, Don Rissmiller at Strategas Research Partners noted that while US employment growth is still solid, “as the business cycle matures, it is normal for job growth to slow.”

“That peak in growth to be happening this cycle based on the Fed’s senior loan officer survey,” Rissmiler writes.

And as far as Rissmiller is concerned this chart is a clear indication that job growth is about to slow down.

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