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America’s labor market is a mess and riddled with incongruency. On the one hand, businesses can’t find workers. Help wanted signs hang in windows across the country. A McDonald’s franchisee in Tampa is offering bonuses just for showing up for an interview. Meanwhile, unemployment just ticked up to 6.1%. In what kind of world does […]
Everybody expected the jobs report last Friday to show a big increase in employment. It didn’t happen. Instead of the 978,000 new jobs created in April that economists expected, nonfarm payroll increased by just 266,000. On top of that, the Labor Department revised the March number down from 916,000 to 770,000. The unemployment rate ticked […]
Unemployment is at 6%. Tens of thousands of people apply for unemployment every week (744,000 last week alone). The US government is spending trillions of dollars to “stimulate” the economy. But restaurants in northeast Florida can’t find enough workers to open every day. Does this sound a nutty to you as it does to me?
The economy is recovering quickly! Just look at the rebounding jobs market. But in a recent podcast, Peter Schiff poured cold water on the notion that falling unemployment is necessarily a sign of an impending economic boom. After all, people going back to work do not reflect actual job creation.
The Labor Department released its February jobs numbers on Friday. The numbers were better than expected and the official unemployment rate ticked down. The mainstream spun it as more good news and another sign that the economy is on the upswing. But in his podcast, Peter Schiff broke down the numbers and came to a […]
When unemployment began to quickly shrink over the summer as governments loosened up on the economic lockdowns in response to COVID-19, everybody got giddy and assumed we were in for a quick recovery. But we’ve been saying that the quick turnaround was an illusion and that the lockdowns caused deep wounds in the labor market. […]
More bad news for the labor market. Nearly 1-in-10 companies are planning layoffs in the next three months. That’s on top of the more than a quarter of US companies that have already let workers go in Q4.
The mainstream spin on unemployment is that things are improving. The unemployment rate is coming down. The number of weekly jobless claims recently fell below 800,000 for the first time since government lockdowns in response to the pandemic went into high gear last March. But there are some troubling signs that undercut this good-news narrative. […]
Last week, we reported on the number of temporary layoffs that are turning into permanent job losses. Now Goldman Sachs is projecting even more permanent job losses coming down the pike as a wave of mergers, acquisitions and corporate takeovers sweeps through the economy.
It’s been months since the US started to reopen after the government-imposed coronavirus shutdowns and yet hundreds of thousands of Americans continue to file for unemployment every week. In this episode of the Friday Gold Wrap podcast, host Mike Maharrey takes a close look at the labor market and concludes that a lot of these […]
