Unemployment has accurately followed Labour differential data each and everytime since the 80s.
“Labour differential” refers to the difference in labor costs between two regions, industries, or types of workers. It’s used to compare wages, productivity, or work conditions, especially when companies are deciding where to set up operations.
- Cost difference: How much cheaper or more expensive labor is in one place versus another.
- Productivity or skills: Sometimes it compares the productivity or skill level of workers.
- Decision-making tool: Companies use it to decide where they can operate most efficiently based on labor costs.
For example, if wages are lower in Country A than in Country B, the labour differential might encourage a company to move operations to Country A.
This is why they cut 50bps.
U.S. consumer confidence plummets in September amid rising job concerns
Consumer confidence across the United States declined in September amid ongoing concerns about the current state of the job market.
On Tuesday, the Conference Board, a business research group, released a report showing that its consumer confidence index levels fell to 98.7 in September, a decrease from the 105.6 figure recorded in August. According to the Conference Board, the decline seen in September was the largest month-to-month decrease since August 2021.
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