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Bob Elliott, co-founder and CIO at Unlimited, highlights the collapse in informal sector job creation in the U.S. labor market.
Elliott observes that while many focus on payroll growth to benchmark economic health, the weakness in the informal sector suggests the overall labor market may be weaker than formal payroll numbers indicate.
Elliott has previously commented on market trends across industries. In April, he attributed a rise in new orders to Boeing but noted that backlog expansion may delay production increases. He also cited reduced central bank gold buying as a factor behind recent softness in the gold market.