Why are the Two Major U.S. Employment Surveys Emitting Conflicting Signals?
Former JPMorgan Chase Global Chief Economist & Ph.D. in Economics
In May 2023, a peculiar phenomenon emerged in the U.S. labor market, with the Establishment Survey indicating a significant rise in non-farm payrolls, while the Household Survey reported job losses. These results raise the critical question of whether U.S. employment is trending lower or higher.
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