01 Jun “it’s coming out hot folks”
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“We got the JOLTS data coming on through as we have been talking about, and it’s coming out hot folks. $10.1 million job openings in the month of April. 9.4 million is what economists had been estimating. And it’s an uptick from the prior month, about 9.59 million. Actually, there’s even an upward revision in the prior month to 9.74. So I call it 7.5 million jobs. So the job market is still hot.” –https://finance.yahoo.com/video/jolts-report-tells-us-economy-141828766.html
Yeeeahhhhh. It’s comin’ out hot, alright. 😆 How dire will things truly be by the time some talking head finally comes out and says, “Ruh-roh. That job market isn’t looking so good.”
*slips on tinfoil hat*
Here’s the deal: The Fed is using the job market as justification for what it wants to do. Corpo America is using The Fed to deflate the job market bubble we saw in 2021. They want the balance of power firmly in their grasp. They learned nothing from The Great Resignation. Zippety-doo-dah. Ничего. Nichts. Zero. They waited for it to end and they are ready for their banker cronies to crash this economic jalopy, which very much includes the job market. The Fed can continue raising interest rates and claiming it’ll all be fine, fine, just fine because hey: look at how RED HOT that job market still is.
“Fed Has More Reasons To Be Hawkish As JOLTs Job Openings Rise Above 10 Million
JOLTs Job Openings rise to 10.1 million in April as the job market remains strong.
There is a 69.9% probability of a 25 bps rate hike at the next Fed meeting.
U.S. Dollar Index tests multi-week highs as traders prepare for a more hawkish Fed.”
It’s not difficult to pull these threads together. I mean, if you’re the typical LI corporate bootlicking sycophant it seems to be, but for the rest of us: no, it’s not tough to see the writing on the wall here.
“Job Openings Rose in April, Defying Cooling Trend
The Labor Department report may put pressure on the Federal Reserve to raise interest rates further to stem inflation.” –https://www.nytimes.com/2023/05/31/business/economy/jobs-layoffs-openings-jolts.html
Stay aware of your industry. Stay aware of the stability of the company you work for. If you’re self-employed, do you have a Plan B on how to make money if things slide downhill? I do not for one single second trust this JOLTS report.