US job cuts: Moody's chief economist Mark Zandi sees 'big warning' signs in June data. Here's why he's worried about the labour market

Economists question the strength of the June US jobs report. Mark Zandi notes falling labor force participation drove the unemployment rate down. Household survey data shows a continued decline in employed individuals. An adjusted unemployment rate now exceeds five percent according to Zandi. Other economists also express concerns about the labor market's true condition.