MacroVoices #363 Lakshman Achuthan: Immaculate Disinflation Debunked
Macro Voices
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The Share of Recessionary Job Losses
Good sector job losses account for 77% to 134% of total recessionary job losses. Even though the service sector accounts for 85% of non agricultural jobs, it's the goods producing sector is about 15%. And this has been consistently the case through into the early 21st century. The cyclically sensitive goods sector is going to punch far above its weight in driving recessionary job Losses even despite post COVID tight labor markets.
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