Is The Labor Market Going To Be Weak For The Long-Term?

1. It’s notable that the decline in non-seasonally adjusted claims plus PUAs basically ended in the 2 nd week in June (fell 1%) as the chart above shows.
2. This could mean when the economy fully reopens, there might not be a flood of people getting their jobs back.
3. The NAAIM exposure index shows managers are extremely overweight stocks.