Last Friday’s surprisingly strong April jobs report and today’s unexpected drop in initial unemployment claims were welcome developments in the beleaguered U.S. labor market.
However, the underlying details of the labor market continue to be troubling.
Last week, veteran economist David Rosenberg gave a lengthy 59-slide presentation on the Federal Reserve’s failed efforts to get the economy on track.
Much of the presentation focused on the dynamics of the U.S. workforce.
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