> Perhaps, but when it's industry-wide it's often a good leading indicator. As far as I'm aware, employment data is considered a lagging indicator [0], as labo

> Perhaps, but when it's industry-wide it's often a good leading indicator. As far as I'm aware, employment data is considered a lagging indicator [0], as labor tends to be reasonably sticky. > These are companies whose management is in very close personal contact with the capital markets, and so often make decisions very quickly in response to what's going on there. I was fishing for other data, in part, because current data does not support the assertion that layoffs have accelerated [1][2]. In fact, initial claims data appears to be at -- or close to -- historical lows. [0] https://www.thebalance.com/lagging-economic-indicators-list-index-and-top-3-3305860 https://www.thebalance.com/lagging-economic-indicators-list-... [1] https://fred.stlouisfed.org/series/ICSA https://fred.stlouisfed.org/series/ICSA [2] https://fred.stlouisfed.org/series/IC4WSA https://fred.stlouisfed.org/series/IC4WSA