US labor market breaking?

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Zero Hedge with a vital piece. Be careful of ZH’s excitable editorial style. Nonetheless, it does provide some good evidence that the US labour market is coming off. Most critically, it is entirely possible that COVID and the supply chain panic has led to over-employment which could reverse more quickly than even I anticipate. 

How much longer will the Fed keep hammering stocks and pushing the market – and the US economy – lower?

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.