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Good times continue for the labor market — there are still almost two open jobs for everyone looking for-but a recent headline on the hottest layoffs. One after another is "Energy in the Spring of 2020.
See here:
All of these household names are listed in the heading, defined by a surprisingly strong labor market. You might suspect that the recovery that has been done is skyrocketing.
But labor economists are wondering if all of this is a precursor to broader turmoil. It warns that it's too early to know. After all, the layoff rate remains at a low level of nearly 50 years.
"A series of press releases from dozens of companies It's still only a small part of the labor force, "labor economist Aaron Sojournal recently told me. "We've seen very fast and consistent work growth, so there are many reasons to expect a slowdown — it's not yet clear if it's going to be negative."
Sojourner is in a unique position. In March 2020, he and his fellow economist Paul Goldsmi Spinkham were one of the first to accurately predict the first avalanche of about 3.5 million layoffs in a week. This was almost three times the estimate offered by Goldman Sachs.
So far, he hasn't seen wide-ranging patterns of evidence suggesting a slump in the labor market. He says it's not a promise that it won't change, but he's still optimistic.
He warned bearish observers to remember that many of our economic problems are due to things being too good. "People are complaining that consumers are spending too much money, spending too much and soaring prices. Everyone wants to work," he says. "These are very high-end issues."
Future outlook: Layoffs are mostly included in industries sensitive to rising interest rates, but even the Fed controls inflation without causing unemployment. I admit that things may not be possible.
Central banks do not have "precision tools". That means unemployment can be more widespread.
The unemployment rate in May was only 3.6%, down from nearly 15% in the spring of 2020. Even at 4% and above, the labor market is "still very strong," Powell said.
Number of days: $ 592 million
Some people decided to invest in big oil in our Lord's year of 2022 You may feel a little uneasy. We know the fossil fuel industry, global warming, air pollution, and the horrific catastrophe of the all-purpose god.
Not Warren Buffett. Omaha's Oracle Berkshire Hathaway has doubled its energy investment, dropping about $ 592 million from 9.6 million shares of Occidental Petroleum last week. If you can overcome all immorality, it's a pretty solid bet. Occidental Petroleum stocks have risen 92% this year, while S&P 500 has fallen by more than 20%. So yeah, smoke it, hippie, get rich.
PREDATORY
Most people are, of course, pretty moody about rising prices for gas, food, and all possible important items.
But there is at least one industry dancing on the grave of our consumable income. It's a predatory payday loan lender.
One subprime loan lender, Enova, said in a recent earnings call that 44% of all loans issued in the previous quarter were for new customers. That's amazing.
But it's easy to see why people are desperate.
Consumer advocates call it BS.
"There are 18 states and the District of Columbia that have banned payday loans and survived without these predatory lending products," said Nadine, senior policy adviser to the responsible lending center. Chabrier says. "There are low interest rates and low rates of fair and responsible lending products available and available to people."
