Andreas and Mikkel are back to break down the biggest headlines moving markets.

Sep 8, 2025

Andreas and Mikkel explore shifting dynamics in the U.S. labor market and the implications of recent job reports, emphasizing the impact on economic analysis. They dive deep into Non-Farm Payrolls, discussing the nuances behind rising unemployment numbers. The hosts analyze oil market trends and their potential future effects on pricing. They also tackle the challenges of labor shortages in agriculture, weighing automation against immigration issues. Finally, global political turmoil is scrutinized, revealing uncertainties but also a glimmer of hope for market recovery.

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INSIGHT

Read U.S. Jobs Per Capita

U.S. labor market must be read per capita because migration flows changed the workforce size dramatically.
A lower absolute jobs-addition rate now can still keep unemployment stable given the reduced labor-force inflows.

INSIGHT

Contrarian Oil Setup

Oil's price resilience despite OPEC announced production hikes signals a contrarian setup given very negative positioning.
With limited further spare OPEC capacity, improved cyclical demand could push oil higher from current levels.

INSIGHT

Payrolls Overcount Multiple Jobs

Nonfarm payrolls count jobs, not unique workers, so migrant multi-job holding can inflate headline hires.
The current reversal of migrant inflows means payrolls can fall while labor demand remains intact.

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