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Ongoing upturn in cyclical payrolls seen in August report, Eric Basmajian notes

Ongoing upturn in cyclical payrolls seen in August report, Eric Basmajian notes
Cyclical payrolls rising in August report

Eric Basmajian points to the ongoing upturn in cyclical payrolls as the most important aspect of the August employment report.

He emphasizes that this trend in cyclical payrolls stands out among the report’s findings.

Basmajian has recently highlighted that the U.S. unemployment rate fell 0.2% over six months as 920,000 jobs were lost and 1.371 million people left the labor force, according to a previous report. Separately, he noted that record stock market highs have not benefited most Americans as the AI boom contributes to a widening wealth gap, as seen in another recent article. These observations provide additional context to Basmajian's current focus on trends within employment data.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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