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Markets are settling into holiday mode, with stock futures slightly down on the last full trading day before Christmas. Here’s where things stand today: * Nasdaq-100: +0.37% * S&P 500: +0.04% (flat) * Dow Jones: -0.22% On Friday, the S&P 500 rose 1.1%, recovering
Quantum computing stocks are taking off in 2024. Is this the start of something big? Let’s take a closer look Google’s Chip Changes the Game Google’s new Willow chip, a 105-qubit processor, hit a big milestone: * Fixed Errors: It solved a 30-year problem by cutting down error
Government surveys that track the economy are failing. Budgets are shrinking, people are skipping surveys, and economic data we rely on is becoming less trustworthy. This is a big deal—because when the numbers are wrong, decisions that affect markets, businesses, and everyday life go wrong, too. Here’s what’
The S&P 500 Value Index just dropped 3.7%, marking its longest losing streak on record. Meanwhile, Bitcoin smashed past the $100,000 mark, and the Nasdaq climbed to 20,000. To me, it seems that value stocks have been left in the dust, and investors chasing bigger
Almost $10 billion has poured into Bitcoin ETFs since the US election, pushing Bitcoin past the $100,000 mark for the first time. The momentum is crazy, with Bitcoin posting its best winning streak since 2021. With investors pouring in, knowing the risks are more important than ever. Bitcoin’s
Think the job market is still a cakewalk? Think again. I'm blogging about the job market to avoid facing it myself. It's tough out here!
I'm going to dive into the key data highlighting our shift from the old booming job market to a more competitive space.
First off, the unemployment rate: Our unemployment rate has ticked up to 4.1%, the highest since 2021. This increase compares to the low of 3.4% last year. While still low by historical standards, the latest uptick signals a cooling job market.
One big change is the number of open positions per unemployed people, which has risen to levels of 0.8. This ratio was even lower in 2022, hovering at 0.5, telling us there was a huge decrease in available jobs and increased competition among job seekers.
Stabilization of wage growth: Wage growth has fallen from a peak of 5.9% in March 2022 to 4.1% last month. Although this is still higher than the pre-pandemic average of around 3%, it supports the idea of a cooling labor market (see chart below 👇)
Despite the cooling market, the U.S. economy added 206,000 jobs in June, continuing a streak of 42 months of employment growth. This consistent job growth is a positive sign, though it’s concentrated in certain sectors like healthcare, construction, and government work.
Recent hiring has been strong in healthcare, construction, and government sectors. Meanwhile, other sectors like restaurant work and certain white-collar jobs have plateaued or dipped. This says that while some areas are still thriving, others are feeling the pinch.
High competition for jobs is evident, with some positions receiving thousands of applications. For instance, Goldman Sachs had over 315,000 applicants to its 2024 summer internship roles, of which 2,600 became interns 👀
All in all, the job market has cooled, marked by a rising unemployment rate, a decline in job openings, stabilized wage growth, and increased competition for jobs. How are you navigating this more competitive job market?