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More signs of labor market cooling down

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ADP payrolls growth slows. Hiring plans weaken. Layoff trends mixed. ISM Services PMI consistent with slow-to-moderate growth. Unit labor costs revised down, consistent with continued disinflation. Japan's real wages rise further, confirming BoJ tightening path. German factory orders jump, but trend remains weak.

Ned Davis Research | Economics | Daily Economic Perspectives | Daily

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