A continued cloudy picture over jobs https://www.ft.com/content/85b4d252-f561-4aa3-9f07-64472556ae09">https://www.ft.com/content/8... via @financialtimes

1/

Yes - payroll numbers suggest we& #39;ve lost 695,000 since March.

But that figure was 730,000 last month - following some revisions

2/

There& #39;s the first sign in monthly data (always can be a blip) of the official unemployment rate rising

Even more so in weekly data (up to almost 5%)

3/

Hours are staging a recovery - still about 10% down on pre-pandemic level, but way above April.

But this is where we see big distributional shifts (here self employment is suffering)

4/

Also hitting the young and part-timers

So - if you& #39;ve had a stable job and are a millennial, you& #39;ve been fine, but younger, older, self-employed, or part-time, you& #39;ve got a lot more to worry about

ENDS