The June US jobs report may not be as encouraging as it first appears, according to Moody's Analytics Chief Economist Mark Zandi, who has warned that several underlying indicators point to a weakening labour market despite a fall in the unemployment rate.
In a series of posts on X, Zandi argued that the latest employment figures have been interpreted too positively, saying the decline in unemployment was largely driven by a sharp fall in labour force participation rather than stronger hiring.
