Bob Elliott
· Nonconsensus
· May 08, 2026 at 10:08
· ⏱ 3 min read
| Read on Substack ↗
Summary
The author observes that US labor data may be showing early signs of improvement after a year of stagnation. However, they caution that it is too early to confirm a durable trend, citing data lags and the ongoing war as reasons for skepticism.
•US labor data might be showing signs of improvement after a year of stagnation.
•The author believes it's too early to declare a durable improvement due to typical lags in hiring data.
•The ongoing war is also cited as a reason for caution in interpreting the data.
•The market-moving importance of the monthly jobs report appears to have diminished.