Labor

Like the first crisp breeze that signals summer’s end, the Federal Reserve’s decision to lower the overnight interest rate on Wednesday suggests a chill in the economic air, one marked by growing concern over the labor market. 

Ah, it’s Friday.  The final day of the workweek for most working Americans.  It is a day wrapped in a sense of accomplishment while tinged with the anticipation of a couple of days of leisure.  But turn back the clocks a century or so, and you find time when Friday was just another day in the seemingly endless workweek as the typical American used to have a six-day workweek

This is a copy of an email sent to clients in June 2017 before the notes were being published here.  I am posting it here now since I refer to it in the note for August 25, 2017.  ~Christopher