September Payroll Preview
Demand is strong, did supply improve with the end of expanded benefits and school reopening?
The September Employment Situation Report
Let us take as a starting point, a speech by NY Fed President Williams following the August employment report. Williams is the most influential member of the dovish wing of the FOMC, and he described the labor market as having strong demand, but supply constrained. I expected the Fed doves to be concerned about t…