Despite “Strong” Jobs Report, Recession Still Locked In

November’s jobs report surprised to the upside. Nonfarm Payrolls (NFP) rose +199k, close to the +185k consensus view. But, it was the sister survey, the Household Survey (HS), that shocked the financial markets, as it rose +747k, more than doubly offsetting its -348k fall in October. So, it isn’t a surprise that the Unemployment Rate […]