A weak jobs report sent stocks tumbling Friday and Monday, but it wasn’t solely to blame, Northeastern labor economist says. AP Photo/Richard Drew
The recent jobs report showed a softer-than-expected labor market. Global markets subsequently tanked — with echoes of Black Monday.
But was the jobs report really that bad?
“I feel like the market took the Friday jobs report as an opportunity to self correct about a couple different things,” Northeastern University labor economist Alicia Modestino says. “So I think that’s why we’re seeing this have a little bit more legs than just a one-time correction to the labor market, because they’re baking in a few other things.”
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