NOT! In the Labor Force remains at very high levels. 99.5 million people. To hit prependemic levels 5 million would have to start looking for a job. If that were to happen then the unemployment rate would skyrocket. Since the unemployment rate only counts those who are looking for jobs.
The question is if and when we hit a recession how high will we go?
Always important to have the full picture before reading headline data points. this is a huge drag on the economy.
The question is if and when we hit a recession how high will we go?
Always important to have the full picture before reading headline data points. this is a huge drag on the economy.
Real Macro Economic Investing
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www.patreon.com/Realmacro
As expected.
Latest List of Layoffs Over Last 3 Months:
Twitch: 35% of workforce
Hasbro: 20% of workforce
Spotify: 17% of workforce
Levi's: 15% of workforce
Zerox: 15% of workforce
Qualtrics: 14% of workforce
Wayfair: 13% of workforce
Duolingo: 10% of workforce
Washington Post: 10% of workforce
eBay: 9% of workforce
Business Insider: 8% of workforce
Charles Schwab: 6% of workforce
Macy's: 4% of workforce
Blackrock: 3% of workforce
Citigroup: 20,000 employees
UPS: 12,000 employees
Pixar: 1,300 employees
Salesforce: 700 employees
American Airlines: 650 employees
Today's announcement of large layoffs at UPS was the first in the shipping industry. The importance here is that it is a reflection of the broader economy