September 9, 2020 – A nice mention from The Liscio Report, Philippa Dunne, and Doug Henwood. Excerpt below:
In this morning’s Job Openings and Labor Turnover Survey for July, total job openings rose a statistically significant 0.3%, with twelve of components making that bar, and fifteen left out. Interesting that overall +/-0.2% is significant, but in construction +/-0.9% is necessary, and in accommodations and food services the bar is +/-0.7%. The largest increase was in construction, up 1.1%, followed by retail, +1.0%, and private educational services, +0.8%. The largest decline was in leisure & hospitality, -0.9%, with arts & entertainment down 1.3%, and accommodation & foods services down 0.8%. Increases were statistically significant in the South and Midwest.
There’s a widening divide between those who think the economy is improving faster than expected, and those of us who are waiting for another shoe to drop. David Kotok and his team at Cumberland Advisors put together a series of Beveridge curves last month we suggest you review. The turbulence is shocking, and part of the reason David is advocating for a revamp of the Marshall Plan to rebuild our country.
Take a deep breath, and wonder indeed where the dots will go.
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