Recession forecasts are flying left and right lately, but the main pushback is the labor market. The growth rate for nonfarm payrolls is slowing, but gradually and the latest numbers for December continue to show a solid gain. Yet recession fears persist, thanks to warnings from other economic and financial indicators. Will the labor market soon give way and confirm the dark forecasts? Yes, or so it appears via the slide in temporary workers – considered a leading indicator for payrolls generally.
* Will Biden’s document problems spiral into a political crisis?
* US debt-ceiling fight brewing for later this year
* US and Japan strengthen military alliance to deter China
* Analysts expect corporate profits to fall for first time since pandemic’s start
* China consumer inflation picks up to annual 1.8% pace; still below 2% target
* Recent economic pessimism may have been too extreme: JP Morgan’s Dimon
* European stocks may outperform US shares this year, analysts advise
* Business inflation outlook continues to ease in January via Atlanta Fed survey: