AWM60_KTD_01052023_1028974150

Jobs. No jobs. 
Welcome to the Know the Difference Minute for Thursday, January 5th.
In the battle against inflation, employment is a key metric. 
This is a tale of two job markets. On one side—as we reported Tuesday—layoffs are increasing in the tech industry. Salesforce just announced a 10,000 job elimination. More than 18,000 at Amazon. 
Meanwhile, the JOLTS report has 10.4 million open jobs vs only 6 million looking. That means employers have pay more to keep employees. The Great Resignation is still alive. 
ADP reports private payrolls increased by 235,000 in November—absolutely destroying the estimate. Stand by for tomorrow’s Labor Department non-farm report. 
Wall Street didn’t love the news. Investors fear strong job numbers could convince the Fed to keep raising interest rates. Perhaps to the point of breaking something. 

I’m Dave Spano from Annex Wealth Management.  That is your Know the Difference Minute.