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Stock investors are buoying the economy. A labor market breakdown could end that
Abstract：Government labor data could paint a darker economic picture, leading to a market slide that would throw cold water on the outlook of those who are well off.
As stock market investors support economic sentiment, some economists wonder if a looser labor market could pull the rug out.
The University of Michigan's widely-followed consumer sentiment index slid more than 6% in November, nearing all-time lows and down about 30% from a year ago. Respondents were concerned that the long-running federal government shutdown would drag on the economy, according to survey director Joanne Hsu.
But at least one group bucked the sour mood: Those with the most stock holdings.
The individuals with sizable stock market wealth reported an 11% improvement in sentiment, which Hsu tied to the stock market's recent rally to all-time highs.
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The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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