The US labor market is slow to normalize despite a higher #participation rate. The deviation from the trend of the previous cycle stabilizes at more than 9 million missing jobs. This will end up weighing on the economic cycle. There is still a 3.5million job shortage/February 2020.
199 000 new jobs in December, the lowest growth rate (+0.13%) since December 2020.

The US labor market is a puzzle.
Companies are ready to hire many people but jobs’ creation is low and many employees resign. Is there large productivity gains at companies’ level that we don’t see at the macroeconomic level ? And how to understand this great resignation phenomena. We need to understand these issues to understand the US business cycle dUnami so