Jobless claims spike, in worrisome sign for the US labor market

Recessions tilt the labor market heavily in favor of employers! If you have a job you shut your mouth and work harder, and there are no greener pastures to go off to if your employer treats you like a dog.

 

2008-2009 in a nutshell.

 

I said stagflation was coming back last year. Inflation lags increases in M2 by roughly 24-23 months. Some economists were predicting a recession in October 2023. With our massive debt it will be harder and harder to achieve strong growth. Short term ZI'd expect a lot of pain, more from the recession than inflation.

 

Trump may actually have started Stagflation and finally one of your crazy predictions will come to roost. Consumers spent less this month and we are still seeing inflation and unemployment is on the rise. Basic characteristics of stagflation.

 

I bet on my predictions. Must be doing something right.

Famous trend forecaster Gerald Celente:s annual top 10 trends list has 11 trends for 2009. He had his top 10 ready when he got an emailed idea from me. He added my trend to his list.

October 2023. Mike Shedlock saw stagflation

 

British Petroleum to get rid of 7700 employees and contractor positions worldwide. About a third of their employees are in the U.S.

Major company to axe nearly 5,000 jobs and cut 3,000 contractors in massive downsizing effort: 'We have got more we need to do'