Job openings have plummeted sharply today, a steep decline witnessed only three times since 2000, each heralding a severe economic downturn. No wonder yields are dropping—this number is alarmingly bad. We’re now at a 26-year low. This isn’t just a statistic; it means trucks aren’t moving goods and the economy is slowing down noticeably.
BREAKING: Job openings have just seen a sharp move down today
This kind of a steep declining has only been seen 3 times since 2000
All 3 ended in a sharp economic downturn pic.twitter.com/Qk6ufryWjF
— Game of Trades (@GameofTrades_) June 4, 2024
Linkt.co/9I8JMD44cm
— QE Infinity (@StealthQE4) June 4, 2024
Noticeable.
Cyclical industries are starting to crack.
Small caps, transports, hotels, auto retailers, overall retailers, restaurants, airlines, are all rolling over. pic.twitter.com/Cg3sFul7yP— Otavio (Tavi) Costa (@TaviCosta) June 4, 2024
Jobs Data Shows Jobs Decreased for Second Month in a Row
According to the Bureau of Labor Statistics’ latest Job Openings and Labor Turnover Survey, the number of job openings in the US shrank for the second month in a row, setting a new three-year low. As of April, there were an estimated 1.2 available jobs for every job seeker, the lowest ratio since June 2021.
Fed’s Kashkari: Public Prefers Recession Over High Inflation
Minneapolis Fed President Neel Kashkari shared that through recent discussions, he has learned that people would prefer a recession over enduring high inflation. Speaking on the Financial Times podcast, Kashkari emphasized the deep aversion to soaring prices, a sentiment he noted from conversations with labor groups and workers.