Layoffs continue to rise and job creation continues to slow,
Labor markets are very strong and payroll employment should rise by 200,000 or more in February. The Federal Open Market Committee will continue to raise interest rates.
Even as the pace of layoffs has ebbed, no new hiring is taking place, so continuing claims will rise even further and surpass their peak in the last recession. Labor market deterioration is continuing with no end in sight.
These data, combined with everything else that has been reported, suggest that Q1 GDP should rise comfortably above 1.0 percent,