Kroll Bond Rating Agency (KBRA) releases a report which examines the quality of the labor market ahead of September’s nonfarm payrolls report. While the jobs market is undeniably tight, there is also considerable slack in the form of a slow-to-recover labor force, depressed labor participation, still high underemployment, and a skills mismatch. All of this presents an economic headwind over the near term. Moreover, as the beneficial effects of stimulus wear off, additional challenges figure to arise.
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KBRA is a full-service credit rating agency registered in the U.S., the EU and the UK, and is designated to provide structured finance ratings in Canada. KBRA’s ratings can be used by investors for regulatory capital purposes in multiple jurisdictions.
Senior Managing Director and Chief Strategist