According to the latest conventional ‘wisdom’ – which changes with each and every CPI report and FOMC dot adjustment – inflation is back and so is the soft landing. The most recent update from the labor market says that’s entirely backward. Job findings have utterly plunged right when the jobs market reaches that ‘magical’ unemployment inflection spot on this critical curve.
US manufacturing is struggling:
Manufacturing job openings fell by 13,000 in October, to 465,000, the lowest since September 2020.
Since April 2022, available vacancies in the manufacturing sector have dropped by a whopping 532,000.
In effect, they are now below the 2018… pic.twitter.com/A84oVK5maC
— The Kobeissi Letter (@KobeissiLetter) December 23, 2024
I wonder what Warren Buffett is worried about… https://t.co/AXyHE35QVC pic.twitter.com/PUPLLET4Tl
— Financelot (@FinanceLancelot) December 23, 2024