Jobs Market Gets Worse Before It Gets Better, Goncalves Says
Affected assets and topics
Why it matters
George Goncalves of MUFG predicts that the US jobs market will deteriorate before showing improvement, suggesting that strong jobs data is necessary for the Federal Reserve to halt rate cuts. He highlights that recent economic data, despite the government shutdown, indicates a weaker labor market.
Expected market reaction
Market impact analysis based on bearish sentiment with 81% confidence.
Evidence trail
Evidence
AI provenance
Technical identifiers
- Provider tag
- openai-gpt-4o-mini
- Analysis version
- openai-gpt-4o-mini
- Article id
- 10882
Original source
George Goncalves of MUFG says the US jobs market will get worse before it gets better. He says you "need really strong jobs data to turn off" the Federal Reserve and that's why he thinks the central bank will cut rates again. He also says limited, alternative economic data that came out during the government shutdown still points to the US having a weaker labor market. He speaks on "Bloomberg Surveillance." (Source: Bloomberg)
Read the full article on Bloomberg
Original article published by Bloomberg on November 14, 2025. Analysis and insights provided by AnalystMarkets AI.