Markets Continue to Rely on Private Sector Labor Data

US consumer sentiment tumbled to near the lowest on record, with consumers anticipating that labor markets will continue to weaken in the future. LinkedIn Chief Economist Karin Kimbrough indicates there has been increased mentions of lay-offs on the platform, as well as the measure of quits coming down slightly, pointing towards people staying in place. Kimbrough lists skills such as "AI literacy' as among the fast growing on the platform, with companies looking to extend their adoption. Despite the fragility elsewhere in the economy, however, Kimbrough also believes there are a few bright spots, such as construction and leisure hospitality. She joined Carol Massar and Tim Stenovec on 'Bloomberg Businessweek Daily' to discuss the 'softening' US labor market. (Source: Bloomberg)