Larry Summers, former Treasury Secretary and the President Emeritus of Harvard University, says the recent JOLTS data confirms “absence of evidence for a soft landing.”
(Bloomberg) — Larry Summers, former Treasury Secretary and the President Emeritus of Harvard University, says the recent JOLTS data confirms “absence of evidence for a soft landing.”
Summers also notes that vacancies always fall before unemployment rises.
Finally, Summers concludes by noting that “the evidence suggest that we still have a long way to go to cool the labor market.”
NOTE: Larry Summers is a paid contributor to Bloomberg TV.
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