UBS On-Air: Paul Donovan Daily Audio 'Fragility'
UBS On-Air: Market Moves · Podcast owner
August 4, 20253m 11s
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Show Notes
Last Friday’s US employment report revisions were in line with a fragile labor market narrative. The story is still “not hiring, not firing.” Falling manufacturing employment is consistent with policy uncertainty. The most troubling development on Friday was not the data, but US President Trump firing the Bureau of Labor Statistics commissioner.