NDR's pattern matching tool shows that the NASDAQ has closely tracked the dotcom analog and is closer to 1998 than 2000. It still suggests near-term volatility ahead.
📊US nonfarm business sector labor productivity growth revised -0.5pt to a marginal +0.3% q/q (annualized) in Q1 2026:
▶️Output +1.0%,
▶️Hours worked +0.7%.
📉Unit labor costs up a moderate 1.8%, as the 2.1% compensation gain was only partially offset by productivity growth
Claims:
1/ Initial claims at 225K, their highest level since February. We've seen an increase around this time of year in 2023, 2024, and 2025 which leads me to think it's residual seasonality rather than noise or a real deterioration.
Might be high next week too.
May job cuts reached 97,006, the highest May total since 2020.
📈 +16% from April
🤖 AI led layoff reasons for the third straight month
💻 Tech cuts hit their highest level since March 2023
Read the full report below.
https://t.co/yY94zo5yGt
#JobsReport#Layoffs#AI#LaborMarket