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New Data Suggest Hiring Has NEVER Been this Bad
People imagine a recession is when masses of people are being laid off and so consumer spending isn't just negative, it must be crashing. While those can happen in a downturn, they tend to show up at the end. So, if you're waiting for those to make a determination you'll be way too late. Evidence consistently and conclusively shows hiring not firing creates the recession environment that is marked by a drop in real spending. We have both.
Eurodollar University's Money & Macro Analysis
Robert Shimer Reassessing the Ins and Outs of Unemployment∗
https://home.uchicago.edu/~shimer/wp/reassess.pdf…
The skinny
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