Last week's jobs report came in initial unemployment claims fell by 16,000 to 230,000, while continuing claims fell by 3,000 to 1.86 million. (basically flat)
We also get the GDP numbers for the 1st quarter, and GDP growth slowed to a 1.1% annual rate, 1½% less than the last quarter of 2022, and 0.9% below what was generally forecast.
My guess is that the Federal Reserve will continue its Jihad against the average working person, probably to the tune of a ¼% increase in the Federal Funds rate at their next meeting.
I think that we are already in recession, the income tax withholding numbers seem to indicate that, but we will see an official start date to the recession only a few months after it has started.
The Fed doesn't care, they don't have to, they're the Fed.
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