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Layoff trends remain subdued

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Low jobless claims and layoff announcements reflect strong labor demand. Slower productivity growth pushes up ULC in Q1, posing an upward risk to inflation. Factory orders pick up, but y/y momentum still shows weak manufacturing activity. Trade deficit little changed in March, while the 12-month total swells.

Ned Davis Research | Economics | U.S. Daily Economic Perspectives | Daily

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