Back in May of this year, we first took note (for this Economic Cycle) of the JOLTS data , a measure of Job Openings in the US Economy….At that time an all time high had been hit as measured by this chart again back from May 2021!
As an interesting side note, take notice of the yellow shaded area- this is the NBER Recession tracking (National Bureau of Economic Research) date of a recession… in May of 2021 we were still waiting for the NBER to state if the recession was over and the exact length…. NOT A GOOD measurement for investment as this was way old news even back in May of 2021! Ok digressing a little but thought it worth it…
JOLT Release as of August 13, 2021
Back in May we noted :
- Tons of Jobs Available
- Job Seekers Market
- Tough on Employers
- Could lead to higher wages (Inflation?)
Here is last weeks reading…
Another 20% higher print…extrapolating our comments above, 20% harder on all points!
Note once again the yellow bar is gone and the tiny little recession call made by the NBER- again certainly NOT a timing issue i.e. If you wait for them to tell you the recession is over you will likely be left in the dust!
For all those hiring …. patience, this will like cure its self much like our Lumber clearing post here…. but not in as fast of time….
Looking for a job, you are in the drivers seat… remember, burn no bridges it’s a VERY small world, but you are in a great place… enjoy and best of luck!
Have a Great “Jolts” Updated Day!
John A. Kvale CFA, CFP
Founder of J.K. Financial, Inc.
A Dallas Texas based fee only
Financial Planning Total Wealth