Know The Difference Minute

Let’s just say, it’s cloudy.

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What’s the story with employment?
Welcome to the Know the Difference Minute for Thursday, August 4th.
Let’s just say, it’s cloudy. One number arrives at 730 tomorrow with the Labor Department’s July employment report. Expectations are for 250,000 jobs added.
We saw fresh unemployment numbers today that edged up and are now close to the highest level of the year. Layoffs are starting to pop up—and not just the tech sector. When Walmart starts corporate layoffs, people notice. Companies ranging from Lyft to Allbirds to 7-11 are trimming staff.
US job openings are now at a 9-month low—but is that a big deal? There currently 10.7 million open positions and 1.8 jobs for every unemployed person.
This is the soft-landing balancing act. In June, Fed Chairman Powell said further Fed action could cause more job losses as companies shed expenses. Expect another bump in September.
I’m Dave Spano from Annex Wealth Management. That is your Know the Difference Minute.