Job quits continue to plunge in nearly all job sectors.
Job Openings and Labor Turnover JOLTS
The Job Openings and Labor Turnover Summary for August shows some sobering trends.
- At the March 2022 peak, there were 12,182,000 job openings vs an unemployment level of 5,993,000. There were more than two openings per those unemployed.
- There are now 8,040,000 opening vs an unemployment level of 7,115,000. The unemployment level will soon top openings.
- Quits are voluntary separations. The number of quits is below the pre-Covid level.
Quits by Sector
People are not quitting because there are fewer jobs to go to and new hires will generally be among the first to be discharged when layoffs hit.
Education and health services jobs have been elevated to handle the surge in immigration. But even in this sector quits have plunged to normal levels.
ISM Manufacturing Contracts 6th Month, 22nd Time in 23 Months
Earlier today, I noted ISM Manufacturing Contracts 6th Month, 22nd Time in 23 Months
The most striking aspect was a plunge in manufacturing employment to deep contraction.
On August 23, Fed Chair Jerome Powell said the Fed Does Not Seek or Welcome Further Labor Market Cooling
The market is cheering the Jerome Powell’s self congratulatory and market friendly speech at Jackson Hole. “Your mileage may vary,” said Powell. Indeed.
Further labor market cooling is coming anyway.
Edmund Hui, chief executive officer of one of Hong Kong’s biggest local brokerages, Bright Smart Securities, said his firm has experienced a “massive jump” in account openings.
Brokers across Hong Kong are experiencing a similar euphoria as the stocks of Chinese companies soar in the wake of landmark stimulus moves by Beijing last week. Tiger Brokers, a popular trading platform among Hong Kong retail investors, said it posted a 73% jump in account openings last week.
https://finance.yahoo.com/news/hong-kong-brokers-swamped-once-100907712.html
The thing is … China is a stimulus junkie… wrecked by years of pumping up their economy with ghost cities and other heroin infusions… the country is in the same state a burned out crack whore…
To prevent the whore from dying … they are now pumping her with massive amounts of stimulants… massive lines of cocaine… mixed with speed… and meth…
The dying whore has been energized… she’s prancing around the street corner looking for johns to join her for a back alley romp…
The stimulants will not fix the nasty diseased whore… it will only damage her body further…
Eventually … the stimulants will have no effect on her… they can shovel heaps of cocaine into her… and it will barely raise her pulse…
Sure feels like the end game is close…
china is akin to usa in 1800s. gonna be tons of booms and busts of cities and markets when growth is that fast. yawn. but i did lay down huge money(for me) on chinese stocks and r/e when the smell of this surfaced………..
This is what peak affordable energy looks like
Operations manager Rick Willis told 7.30 the company renewed its electricity contract in January but the cheapest deal it could get resulted in an almost 50 per cent increase in its power bills.
“The ice cream market in Australia is very competitive. Obviously, we’re working against bigger companies than us, so we can’t put our price up to then lose business.
“We’ve had to absorb that cost to remain competitive.”
https://home.nzcity.co.nz/news/article.aspx?id=407815
Isn’t it all about feelings and compassion?
After making it thru 1/2 way, watching three liberals against one, debate night was not cutting it.
One thing for sure any working males where things like job opportunity matter were not getting much to cheer about from the progressive wing on display at debate time.
add: Longshoreman are striking because they want more feelings and compassion?
No, they want more compensation.
Labor vote going to continue towards Trump Vance
The Ayatollah doesn’t want to lose his grip on the ME, but he might lose his grip on Iran. Bibi has more fans in Iran than in Europe and Tel Aviv. An Iranian revolution will be a great gift from Biden to the next US president and for Jimmy Carter 100Y birthday.
180 ballistic missiles were launched. Most of them were intercepted in Iran by the US. Only 7 reached their targets killing one Palestinian in Jericho, injuring a Bedoin girl and damaging Al Aqsa mosque.
After the election, the media will throw away the narrative about how great the economy is.
Get that pay while you still can….
Let me borrow 2 trillion USD a year and watch the party I can throw. Math always wins. Short everything USA. They are bankrupt and one day that will become common knowledge.
China must now tackle its debt crisis or face ‘malaise’, Ray Dalio says
https://www.msn.com/en-us/money/markets/china-must-now-tackle-its-debt-crisis-or-face-malaise-ray-dalio-says/ar-AA1rwrJB
So he means increase debt by offering enormous amounts of funding to brokers with instructions to use this $$$$$$ to buy Chinese stocks to ramp up the market.
Reminds of a loss making enterprise that will turn things around by increasing the volume of sales.
My all-time favourite business is one that involves selling $100 bills for $80… and turning a profit on volume….
CHINA IS F789ED.
Obviously these strategies are quickly going to burn out … then what? Triple Down? Quadruple Down? Whatever it takes…
At some point… it will stop producing euphoria… then BOOM
Vance looks good tonight (whether you like him or not). If he were at the top of the ticket, it may not be this close
His eyeliner is to die for.
He tells lies much more convincingly than Trump can. He was slick.
peter thiel’s boyfriend, makes his boss, donald from queens look like a retard. more damage then help last evening
It will be called the Roaring Twenties, but 2029 is getting close.
i’m still unaware of ONE person who is out of a job, and wants one. not a one. from the 18 year old college kids, mostly immigrants, my fellow students at local CC in nyc……….to my old geezer boomer dummies and over schooled. not a one. i live in little haiti, brookklyn. even the local dog and cat rover hippy girls are still employed……….some even cook em and sell em.
Ask them how well they are saving money
saving is for suckers in an inflationary dying empire of debt.
How many people come within grouching distance of you anymore?
you sound queer. it’s ok. come to school with me and see. i’ve been attending college for decades. i’m quite popular among the young coeds old sport. and frankly don’t give a hoot about what others think. especially nasty boomers on a mediocre blog. old mish is good at real estate and a few other topics……..though. his readership and commenters have gone way down past 15 years……….state of the nation basically. idiocracy
Found the codger in the closet.
time to scab at local dock……
Bring on the courageous replacement workers, then the bots!
We need to get another round of Death Shots into arms… surely it’s time for the winter boosters?
Swissmedic has reported almost 17,000 suspected cases of adverse reactions to COVID-19 vaccinations, of which almost 39% were classified as serious. Most of them involved Moderna, whose vaccine was the most frequently administered in Switzerland. However, the authorities have always stated that the overall risk/benefit ratio of the vaccines used was positive. In general, the most common symptoms observed were fever, headache, tiredness, chills, nausea and dizziness, myocarditis (inflammation of the heart muscle tissue) or hives.
The largest vaccination campaign in the history of the Swiss Confederation was launched in December 2020. The Federal Council called on everyone to get vaccinated against COVID-19. According to official data, the disease has caused or contributed to the death of over 14,000 people in Switzerland. The vaccination rate was around 70%. Since vaccination was recommended by the state, those who have suffered damages are entitled to compensation. The government only reimburses on a subsidiary basis, that is, if insurers or vaccine manufacturers do not pay. “The Confederation could only hold vaccine manufacturers liable if the vaccine were to prove defective,” the FDHA told Sonntagsblick. “So far, Swissmedic has not detected any quality defects in the Covid vaccines in question.”
https://www.ticinonews.ch/svizzera/vaccino-covid-il-dfi-autorizza-il-primo-risarcimento-danni-401057
Ben Fordham reports that according to informarion supplied by New Zealand health, emergency room cases for people under 40 who presented with chest or heart pain are as follows:
2018 – 111
2019 – 2,219
2020 – 4,406
2021 – 13,000
2022 – 21,416
2023 – 20,000
2024 (up until June) – 14,639
Will NSW health respond to the same question?
Listen to broadcast here
https://omny.fm/shows/ben-fordham-full-show/chest-pain-epidemic-hospital-visits-explode-post-c%F0%9F%8E%A7
MORE BOOSTERS for the FOOLS!
And don’t you just love it when a Vaxxer says … well I took 4 shots and I am fine…
Russian Roulette comes to mind … with the prize being a donut!!!! ahhahahahahaha
Quits are down because people “love their jobs”.
Lol
Take this job and shove it up your ass
I assume you are looking for employment elsewhere.