The employment market is losing momentum

Signs of a slowing US employment market are increasing, adding further conviction to my expectation that the US will enter a recession in 2023.

While January’s bumper jobs report drew plenty of headlines and led to market expectations for future Fed rate hikes drastically increasing, February’s jobs report was largely lost amidst the collapse of Silicon Valley Bank.

While a deeper look at the latest employment data reveals some positive news, there’s also a host of items that suggest growing lab…