I suspect these numbers will be subject to large downward revisions, particularly today’s release, and the downtrend will continue. This is much like the other indicators that had recently blipped up and then reversed:
Wage growth, for example, has been decelerating, while the narrative is that everyone is working and there are no people left to employ:
The number of persons working part time for economic reasons increased in February to 4.318 million from 4.182 million in January.
The number of persons working part time for economic reason has been generally trending down.
Not good when imports and exports are both working their way lower:
Expectations down further with the virus:
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