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But we saved everything 🙂.
Peter Berezin points out that while yesterday’s jobs report may present an overly optimistic view of the labor market, there are clear signs that underlying job growth has increased.
He observes that private-sector payroll growth averaged 75,000 in the three months leading up to August, with health care and education sectors excluded from this measure.
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Berezin has previously highlighted risks facing hedge funds that use short-term debt to purchase long-term Treasuries, cautioning that falling bond prices could prompt liquidations in that space (read more). In a separate analysis, he noted that analysts expect major cloud providers, or hyperscalers, to see margin growth as they offset depreciation from expensive AI hardware investments (read more). These recent observations add context to his current take on labor market conditions.