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Resisting Recession with Cathie Wood
FYI - For Your Innovation
Are You Employed at Two Jobs?
Almost every other employment indicator that we have been monitoring is telling us that employment is weakening rapidly. The challenger survey of job cuts, those are up 59 % on a year over year basis. We saw average hourly earnings, which had been averaging in the zero point three% range month to month, they oped zero point five%. And then we got this week, the i s m and the p m I induces purchasing managers index. Those are more manufacturing oriented. The employment indicators both contracted, as did the order indicators. So all of these are corroborating this notion that these strong employment numbers will be revised down.
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