MacroEdge May Labor Market Report - Labor Market Cooling Continues
The labor market in the United States and around the world continued to cool in May - and we expect further headwinds through the summer and into the second half of the year. #TeamMacroEdge
Good Saturday afternoon MacroEdge community & friends,
Today brings our monthly labor market report covering the labor data for May in the United States - covering a variety of public and private sector data sources to break down the entirety of the labor market picture and see what may lie ahead for the labor market through the summer and then into the second half of the year. As we’ve continued to state - May confirmed our analysis from months prior about a cooling labor market. Job growth has slowed broadly, unemployment is up nationally and in over 40 states, and job cuts as measured by the MacroEdge Job Cuts Tracker, our flagship labor market indicator, continues to point towards more coolness ahead.
Tomorrow evening in the next Ozone weekly report - we’ll be laying out the new timeline for MacroEdge One - our global research and data line covering Canada, Europe, and Oceania - from a new MacroEdge contributor who will bring fresh perspectives to our broad array of perspectives and expertise. We’ll also have links to our new MacroEdge TV platforms - on Youtube, Spotify, and more - with our plans to launch broader content and coverage of data and stories at home and abroad. The tenth edition of MacroEdge Radio - covering the current state of CRE - will be available on YouTube tomorrow. We look forward to rolling out new services as we enact the plans laid out in our ‘2025 Vision’ earlier in the year and will have constant updates on new features in the months to come. Access Ozone for two weeks and experience the entire MacroEdge breadth of research and data:
We’re seeing some pockets of weakness appear in the Sunbelt states like Texas and Florida - and large layoffs have begun impacting Texas (such as Zachry Industrial laying off over 4,000 construction workers just last week). We will continue to ignore the fallacies seen in both media outlets and on social media platforms of (in or out thinking) where expecting continuing coolness in the labor markets equals building bomb shelters and hiding out on remote islands for some ‘apocalypse’. We’ll leave that to the billionaires. We will however continue to cover the data with an emphasis on accuracy through our driven-by-data approach, which allows us to be agnostic towards sides, and solely focused on the data.
