UBS On-Air: Paul Donovan Daily Audio 'Strikes, and participation by the elderly'

The economic calendar is subdued, with US markets closed. Revisions in last Friday’s US jobs report adjusted employment levels lower. Payrolls data was distorted by the actors’ strike (although actors may still be working as baristas, restaurant serving staff, etc.). Participation rates are rising, labor market churn is falling, and the picture is very much “soft economic landing.”