People are Desperately Losing Hope in the Labor Market

Americans continue to say they're alarmed about job prospects. That's what consumer confidence is truly about, not consumer spending. Workers see and understand labor market shifts before they show up in the major data sources. The latest income data show there is every reason to believe what consumers are seeing.

Eurodollar University's Money & Macro Analysis

Conference Board September 2024

FRBNY Consumer Confidence: A Useful Indicator of . . . the Labor Market?

FRBNY Survey of Consumer Expectations

[DonaldMark-nese]

The market's direction can swiftly change, with indexes frequently transitioning from a bear market to a bull market precisely when the news is most negative and investor sentiment reaches its lowest point.

[richardhudson]

Sincerely, I’m really concerned about how the current economic crisis and rising inflation have really taken a toll on my portfolio. It's becoming quite worrisome, especially at my age.

[deeannagartenhaus]

Its worse here, our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.

[DebeaumontCadiz]

*Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*

[Mbwave-hz]

My mother in law been out of a job for over a year now, I’m so sick of this country

[kentuckycowboy]

(Sittin' On) The Dock of the Bay
Song by Otis Redding

Sittin' in the mornin' sun
I'll be sittin' when the evenin' come
Watching the ships roll in
And then I watch 'em roll away again, yeah
I'm sittin' on the dock of the bay
Watching the tide roll away
I'm just sittin' on the dock of the bay
Wastin' time
I left my home in Georgia
Headed for the 'Frisco bay
I've had nothing to live for
Look like nothin's gonna come my way
So I'm just gonna sit on the dock of the bay
Watching the tide roll away
I'm sittin' on the dock of the bay
Wastin' time
Look like nothing's gonna change
Everything still remains the same
I can't do what ten people tell me to do
So I guess I'll remain the same, yes
Sittin' here resting my bones
And this loneliness won't leave me alone
It's two thousand miles I roamed
Just to make this dock my home
Now, I'm just gonna sit at the dock of the bay
Watching the tide roll away
Sittin' on the dock of the bay
Wastin' time
Source: Musixmatch
Songwriters: Stephen Lee Cropper / Otis Redding
(Sittin' On) The Dock of the Bay lyrics © Cotillion Music Inc., East Memphis Music Corp., O R M Inc, Dholla Publishing, Eor Publishing, Jarredotis Publishing

[talisikid]

There are some ignorant people in the comments. Even the feds are getting quite worried about the economy. It’s global and the stock market is a gigantic bubble. Study some history.

[justpassingwind]

From the Ludwig Institute the FUNTIONAL rate of unemployment is 24.4% not the figure that the Fed uses at 4.2% just saying!

[LoriArredondo]

Thanks Mate, the sad truth is that no one has a clue, we all react to what happens as it happens and try to analyse it but can’t predict an iota of what is going to unfold in the markets… content creators are like amplifiers, when times are good they affirm it and try to tell you why it’s good and that it’s looking bullish but then all of a sudden the market turns bearish and everyone affirms it again and try to analyse why… it’s so sad that many are so powerless and it's not about guessing the market's next move; it's about playing it smart and steady during trading...managed to grow a nest egg of around 2.3Bitcoin to a decent 19Bitcoin in the space of a few months... I'm especially grateful to Milton Harper, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.

[thomaspaine]

Twin Cities here. Restaurants are closing left and right. Well established ones that have been around for decades.

[CoachForsyth]

Here in El Paso no one is buying much of anything, and hardly going out to eat. The recession is already here.

[Makronauta]

Who is still here in 2030 waiting for Jeff's prediction to materialize?

[stevepierce]

The core unemployment is really the number forced into part time jobs and underemployed at Great Depression levels near 25%. The common person knows it. Full time job openings are becoming rare. When college grads have to send out over a 1, 000 resumes without a reply.... that tells you what the picture really is. How long does this last before stag flation becomes the norm?

[sachinprabhu]

One man …I follow to know truth about economic situations

[Jerry-vzix]

audio is much better, barely notice the echo. I'd put up another acoustic panel, but the people that would notice would be... just a few. (thanks jeff!!)

[randyosborne]

Congress is for sale. On the take. BOTH PARTIES. And Congress mandates the Federal Reserve. What could go wrong?

[petefraser]

People talk trash about Jeff, but you can’t say he doesn’t bring the charts to back up his arguments.

[hymansahak]

Jeff’s analysis is spot on. Unfortunately most people just look at the stock market (which is really driven by 20 companies and 3 mega funds controlling the price action) to get their daily update on the economy.

[thecountofmontecristo]

Jeff, you made a lot out of the gap between GDI and GDP and considered it a recession signal previously. Can you explain why GDI and GDP have now closed and both looking very healthy revisions/estimates. Does this weaken your thesis at all on a likely recession going forward?

[MrMcSnuffyFluffy]

Yep, the economy is slowing. I think that's obvious, but so what? Now what? You're not really saying anything.