HUGE surge in job openings in the jolts report. Wow. I think @DannyDayan5 thesis is right that many companies delayed hiring plans until after the election and created an artificially soft labor market moment. Businesses coming out swinging now.
⚠️ Private sector hiring rate fell to 3.7% in latest JOLTS (same level seen in Sep '09 and Mar '20). Private quits rate also lowest since 2018. What's weird is that layoffs rate also fell in June. In other words, US labor market in state of paralysis $USD
They really are losing the plot on how to manipulate the numbers: not only a crash in full-time workers, but Household Survey was DOWN 408K, vs 272K establishment survey.
The gap between the two surveys has never been bigger
🚨 The latest Challenger Report is here! 🚨 Job cuts hold steady in May, with hiring hitting the lowest total in a decade. Spikes in industries facing rapid AI advancement and a demand for energy efficiency, like Auto and Energy. Learn More: https://t.co/xhnLjwxrNf
History of Fed's 2% inflation target is surprisingly arbitrary.
79-87 Fed preferred inflation 0-1%.
00-07 Fed apparently targeted 1.5%.
But after 2008 financial crisis, Fed picked a number—2%—copying... New Zealand? 🤔
And now we're stuck with it.
https://t.co/43cV2Lao9B
First two months officially in the books (it's felt like six) and the ten bitcoin ETFs now have over $55b in assets with exactly double that in volume at $110b. If these were the numbers at the end of year I'd call them a success. To do it in eight weeks is simply absurd.
U.S. workers are getting scooped up by international companies hiring remote roles, per CNBC, with the number of American workers hired by international companies grew 62% last year.