Haymaker Daily

Plus a point of clarification

Hello, Subscribers:

As a follow-up to yesterday’s Macro Monday Missive on the deteriorating labor market, one of the most confirmational data points of the downward trend was just reported by the Wall Street Journal. Over the past year, the U.S. has added 156,000 jobs but healthcare was responsible for 375,000. Therefore, net of healthcare hiring, the rest of the economy lost 219K jobs.