The labor market is on the brink of further weakening, economist says

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The US Job Opening and Labor Turnover Survey saw job openings fall in April to 8.06 million from 8.355 million, the lowest level since February 2021. Citi Economist Veronica Clark and Sanctuary Chief Investment Strategist Mary Ann Bartels join Catalysts to break down the print and discuss what it could signal for the Federal Reserve's next interest rate decision.
"We know that demand for labor is definitely coming down. You see that very obviously in the overall job openings number declining, but also in a very low hiring rate," Clark explains. She adds that while layoffs are still low, businesses are looking to cut labor costs by pulling back on hiring new workers.
As Wall Street eyes the Fed's next move in its battle against inflation, Bartels says that despite mixed data, "inflation can continue to come down. And we're still forecasting that the Fed should be able to cut rates by 25 basis points in September." Clark is wary of a recession, believing the labor market will continue to weaken as consumption and housing slow. However, Bartels pushes back on the idea, explaining, "The consumer is still spending, however selectively, and I think as long as the consumer is spending, I don't see a recession."
#youtube #news #labormarket
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Опубликовано:

3 июн 2024

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Комментарии : 69

@Theluckypessimist Месяц назад

But let’s keep giving Ukraine billions and keep the borders open as well. I’m sure it will all work out.

@user-fc1im8kj3k Месяц назад

Powell made it clear at his last FOMC press conference that he thinks inflation in this year will be sticky, but a slowdown in jobs market will be an excuse to cut interest rates.

@Thomas-mh6ib Месяц назад

The rich are money minded. That is one thing I learnt from the start. I have always wanted to build wealth. I have set out $167k that I had been saving since 2020, and I want to put it in the stock market so I can grow my wealth. Any recommendations?

@MileyHumphrey-ql4jp Месяц назад

It is really good that you do. I know a lot of people who have made a lot from the stock market. But you need to spend a lot of time studying the market if you want to be a pro, or you use a stock advisor who really knows what they are doing.

@Anthony-bh6dd Месяц назад

How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings

@Anthony-bh6dd Месяц назад

I looked up her full name online and found her page. I emailed and made an appointment to talk with her; hopefully, she gets back to me.

@DanielPerez-mb7wm Месяц назад

Scam!!!!

@joeschmoe8965 Месяц назад

Simple. Buy Nivida and hold it.

@SedriqMiers Месяц назад

Thank Goldman Sachs the world has been in a Global Depression since 2008 bankster bailout.

@profitmix441 Месяц назад

Huh?

@SedriqMiers Месяц назад

@@profitmix441 Go back to sleep.

@uio890138 Месяц назад

Nah, thank Biden and Democrats. If they hadn't lost the House in 2023 it would have been a total train wreck by now.

@AnitaBarneycastle Месяц назад

💯

@AnitaBarneycastle Месяц назад

💯

@nickvin7447 Месяц назад

"I don't see a recession". That's because you are over leveraged in equities.

@solidorsharp3091 Месяц назад

The fed was never designed for corruption $ economic warfare, continuous monopolies $ insider trading $ accounting firms cooking the books $ and shareholders corruption / lobbying $ We need real change on our banks and to break the monopolies and support entrepreneurship $

@goodasgold2012 Месяц назад

We're already in the depression that's going down worse then 1930's. As time and spending continues to grow. As restaurant's close. As farmers crop's fail As banking is insolvent. As home sales drop. As buyers don't qualify. As food resources are destroyed on purpose. Egg's, meat, wheat, soy, corn, production facilities are burning down overall in major depression. Military woke policies leaving us weaker then in the past. Health care is not unaffordable... unless you're on a very low income, or new migrant. Car loans...repo 15,000 daily....low number. Homeless citizens rise daily, living in tent's. School system is woke, children confused by many programs outside of learning just basics.

@KungPowEnterFist Месяц назад

Been hearing this since early 2022.

@EJleon96 Месяц назад

Hah that’s when things were at their peak, we clearly aren’t in a peak anymore and coming down, slowly but still coming down. We are gonna feel this more and more as time goes on

@slim3160 Месяц назад

There are a lot of layoffs wtf you talking about

@ASURAN24 Месяц назад

Stocks are going higher doesn’t mean the underlying economy is doing well. Corporate gains doesn’t equate main streets. It is as simple as that.

@Seanpfree Месяц назад

Now we will see that the wealth gap grows to a canyon

@TheBooban Месяц назад

“The restaurants and flights are packed” that was hilarious. She doesn’t represent “the consumer”. She represents where all the money went to. GDP and the economy went up. But it all went to some few.

@profitmix441 Месяц назад

It’s funny the way she thinks is the way a lot of people think.. restaurants and flights won’t be empty till the recession is confirmed.

@lemontadams3029 Месяц назад

U.S. Moves Closer to Dragflation, Not Stagflation Dragflation is the combination of declining economic growth and rising inflation

@georgeboutwell6069 Месяц назад

FDIC warned Six big banks resist of default today

@AZ-rg3rf Месяц назад

Heading there?!? We've been in it the last 4 years!!

@dgaz3057 Месяц назад

The only way to get an interest rate cut.

@clpasztor Месяц назад

... Did that man really just laugh at dollar tree being the most important stock because people are making less money? Weird. Just, weird.

@chuyenpham3336 Месяц назад

Thanksss

@JohnWalsh2019 Месяц назад

The consumer is still charging (credit cards).

@Batman_0381 Месяц назад

No one cares about yahoo lol

@Lobsterdollar Месяц назад

Im spending money! Get to work people! Lets keep demand strong!

@Relaxlifeisshort2 Месяц назад

Come on this was coming and cab be seen a mile away

@ronjoseph7973 Месяц назад

Were they way off. Job creation far exceeded the consensus of 175,000 to 272,000. I agree about a September rate cut for no other reason than Jay Powell’s job is on the line if Trump gets elected.

@yofinance1777 Месяц назад

Depression is what we’re already living in.

@user-ll9qk2el4d Месяц назад

...where YOU are living. Stop fear mongering. You have no idea of what real depression is like.

@CaliforniaMISC Месяц назад

Increase interest rate

@RoTelnCheese Месяц назад

By 0.5%

@ghosthdel3098 Месяц назад

i work in one of one of the top 4 inv bank in the USA and we believe that people still have lots of money, although people's debt has gone up they are more savvy by using credit cards to pay their bills and pay them off each month, especially in the USA. The wage rise also has increased a lot, i.e i had 23% increased this year + bonus, we just need people to spend more