Jobs numbers “implode” as job openings plunge 800,000 on the month.
Even the cheerleaders at the Wall Street Journal think it’s bad.
This matters because jobs are the only statistic saving this economy from recession. If jobs go, it all goes. pic.twitter.com/K2Wggzn63y
— Peter St Onge, Ph.D. (@profstonge) December 8, 2023
Job openings “implode” by 800,000 on the month, as the the Fed rate hikes finally hit. Even those numbers are smoke and mirrors with 5 million Americans out of the workforce post-Covid. Including those would put us at 6.5% to 7% unemployment — right where we were at the start of the 2008 crisis. FX Hedge
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