Last leg of the economic bulls argument, employment, is cracking. AIA Weekly Report 6-24-23

One of the main arguments that the economic and stockmarket bulls has been that employment has been strong.

I have been maintaining that the lag effects of one of the quickest FED hiking cycles would eventually make its way through the economy and cause higher unemployment and lead to admission that the economy is in fact in recession.

This looks to be finally occurring. Recall that previous rate hikes take 12-18 months to feed through the economy and be felt.