The June Jobs Report, Pricey Stocks & Other Economic Mysteries, Explained
This episode is brought to you by RSM US LLP, a leading accounting, tax and advisory firm dedicated to the middle market. Last week, the Labor Department published a jobs report that showed stronger employment numbers than expected. Yet soon after the report's release, it became clear that the unemployment rate was likely much higher than official figures suggested. Kevin Depew, RSM's deputy chief economist and leader of the firm's national industry eminence program, returns to the podcast to give an economic update for the second quarter, including a look at the labor market and why the most recent government unemployment figures were too low. He also explains why the stock market continues to reflect optimism despite pain in the real economy, and how that dislocation could impact economic growth. Depew goes on to describe sentiment among middle-market business leaders and how the crisis has hastened new investments in technology, and he offers his prediction for the shape of an eventual economic recovery.