Fed's Labor Market Conditions Index Tumbles For 6th Straight Month

Despite Friday's 'magnificent' goldilocks jobs print, The Fed's Labor Market Conditions Index (once Janet Yellen's favorite indicator... until it started to turn down... and now just "experimental") tumbled 1.9% in June, dramatically worse than expected and down for the 6th straight month.



Of course it's probably nothing... better to focus on one extremely noisy data item than a 19-factor smoothed model that has historically correlated extremely well to recession...


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