Nonfarm Payrolls Show Minimal Growth Amid Labor Market Concerns

David Rosenberg, founder and president of Rosenberg Research, posted on X that the year-over-year trend in nonfarm payrolls is showing a modest increase of 0.2%, while the six-month trend is nearly stagnant at an annual rate of 0.1%. Rosenberg emphasizes the importance of focusing on trends rather than monthly data, which are subject to revisions. He expresses skepticism about the current state of the labor market, suggesting that there is little reason for optimism despite some positive headlines. Rosenberg advises caution and recommends disregarding overly optimistic views on the labor market.