But don't bet on a soft landing outcome for the US economy as the Fed gets set to cut rates, says famed economist David Rosenberg.
AdvertisementRosenberg ResearchRosenberg's downbeat views on the labor market come amid his skepticism about the impressive rallies in major stock-market indexes like the Nasdaq 100 and the S&P 500.
Still, as Rosenberg points out, some say the Fed needs to act urgently as the labor market weakens.
Waiting too long to lower interest rates to support the economy will only increase the odds of the job market breaking down."
Rosenberg has been consistently bearish on the US economy in recent months, while the labor market has continued to prove him wrong.
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