The consensus expectation of a 22 million job loss will set an historical record for this morning's US jobs report. Beyond this, information in the monthly report is either lagging realities on the ground, like the unemployment rate (consensus: 16%), or distorted (wage growth). With time, this report will provide again important information -- and not on sectoral developments. Over the next few months, It will help shed light on labor participation, the extent to which the unemployment surge will prove transitory, and how wages/hours worked will evolve. #unemployment #wages #economy #employment #unemploymentrate #jobs …see more