Labor market momentum (change in payrolls) has slowed, but the level of activity (unemployment rate) remains strong; the flatline in aggregate hours (employment × work week) despite 2-2.5% growth suggests hours must eventually grow to match economy, creating job growth or work week extension.
factualpending
Speaker
Neil DuttaEvidence Quote
“there's two ways of looking at economic data right the first is momentum so a momentum indicator would be something like the change in payrolls and then there's looking at the level of activity right”
Created: 8/12/2026, 6:02:32 PM
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