- The shocking jobs report on Friday wasn’t as bad as it looked and was actually just fine, according to market veteran Ed Yardeni, who cited wage and workweek increases while attributing weak payroll gains to muted labor supply rather than waning demand. That’s as others on Wall Street have raised alarms about the U.S. economy nearing a recession.
Wall Street’s dreams for a bulletproof economy impervious to President Donald Trump’s trade war may have been shattered, but market veteran Ed Yardeni accentuated the positive in what was an otherwise dismal jobs report.
