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Bid/Ask Spread in Job Market Narrowing; July Non-Farm Payrolls Will Surprise to the Upside

Aug. 05, 2021

It’s most definitely Deja vu all over again. The re-emergence of heated debates these days around full-employment, NAIRU, Fed policy, tapering, and the mirage of bipartisanship in a Senate that still includes Mitch McConnell, not to mention reading the symbols on our alethiometer to forecast upcoming jobs reports, feels particularly reassuring (comforting, even) given how insanely surreal and unprecedented the past 5 years or so have been.

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