Keeping it Simple | Ep. 19: Narrative Nation… Cool Story Bro…
Keeping it Simple with Simplify Asset Management
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Is the Labor Market Really Strong?
Harley: One of the things that keeps jumping out at me is this language and the narration around the labor market is super strong. And I actually think that this is almost like the rest of the inflation story it's largely a supply dynamic. We're roughly 10 million immigrants short of where we thought we were supposed to be in 2008. No surprise we have a shortage of gardeners manual laborers, carpenters, etc. There's a huge difference between a market that is supply constrained, and one that has run away job growth. The reality is just like 2005 when everybody treated their home as a piggy bank,. This time around we're looking at near record low levels of savings people
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