In this morning’s edition of The Macro Show, Hedgeye Financials & Macro analyst Josh Steiner discusses current labor market dynamics with Director of Research Daryl Jones.
"Even with all the improvement that we’ve had over the last few quarters, we’re still at almost triple the amount of people collecting unemployment insurance as there were in the peak of the financial crisis," explains Steiner, as he dives into the segments of the insurance collectors, and discusses what will happen when a large portion of states begin declining federal assistance in the coming weeks.
"3 to 4 million workers are going to be pushed into the labor force once these 21-22 states (35% of all workers, collectively) extricate themselves from the federal assistance program. July, August & September numbers will be very strong."
