This trend is concerning:
— The Kobeissi Letter (@KobeissiLetter) June 23, 2024
For the first time in 4 years, the US unemployment rate has crossed above its 36-month moving average.
In previous economic cycles, every time this has happened a rapid spike in jobless rate followed.
This has also coincided with the economy falling… pic.twitter.com/uDBctOGilr
Lovely
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