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15th Dec 2025 18:36USDaily Monitor
  • Private payrolls are no longer slowing and the jump in unemployment was mostly due to the shutdown.
  • Unemployment ex-temporary layoffs, however, is above its pre-Covid norm, and wider slack is building.
  • Some indicators of hiring indicators have improved recently, but layoff plans also have picked up.

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Keywords for: 17 December 2025 US Monitor

independent macro research, Pantheon Macro, Pantheon Macroeconomics, independent research, ian shepherdson, economic intelligence