US labor surplus, NFIB report shows rising unemployment, falling business optimism.

March 12, 2024 1:25 pm by CWR

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Very bearish chart.

Finding good ‘quality labour’ is no longer a problem in the US.

Sharp increase in labour supply is underway (as per today’s NFIB report).

Not what a soft landing looks like pic.twitter.com/KyA51rL28w

— Longview Economics (@Lvieweconomics) March 12, 2024

US NFIB has declined 0.5 points to 89.4
This is the sixth decline in the past seven months and marks a 9 month low pic.twitter.com/OQ08MtlLwj

— Longview Economics (@Lvieweconomics) March 12, 2024

Small business hiring plans and optimism plummeted in February amidst rising inflation & rising unemployment.

— MacroEdge (@MacroEdgeRes) March 12, 2024

See also SCE Labor Market Survey: The proportion of individuals who reported searching for a job in the past four weeks rose to 28.4% from 19.4% in July 2023, highest since March 2014. The average expected likelihood of becoming unemployed in the next four months reached a series high.

See also Canada faces a crisis as unemployment rises to 6.6%, with youth unemployment at alarming levels. Business confidence has plummeted significantly.

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