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Home / Alhambra Investment Partners / Eurodollar University’s Making Sense; Episode 98, Part 1: LABOR SHORTAGE!!!!

Eurodollar University’s Making Sense; Episode 98, Part 1: LABOR SHORTAGE!!!!

Summary:
98.1 America’s Labor Shortage (doesn’t exist?)  ———Ep 98.1 Summary———A lousy labor market report for August is being blamed on a “labor shortage”. Also, ‘lazy Americans’ and ‘the delta’. But the real problem is that businesses will not pay a market-clearing wage to hire the workers they need. Why not? Because the economy is lousy. ———See It——— Twitter: https://twitter.com/JeffSnider_AIPTwitter: https://twitter.com/EmilKalinowskiAlhambra YouTube: https://bit.ly/2Xp3royEmil YouTube: https://bit.ly/310yisLArt: https://davidparkins.com/ ———Hear It———

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98.1 America’s Labor Shortage (doesn’t exist?) 

———Ep 98.1 Summary———
A lousy labor market report for August is being blamed on a “labor shortage”. Also, ‘lazy Americans’ and ‘the delta’. But the real problem is that businesses will not pay a market-clearing wage to hire the workers they need. Why not? Because the economy is lousy.

———See It———

Twitter: https://twitter.com/JeffSnider_AIP
Twitter: https://twitter.com/EmilKalinowski
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL
Art: https://davidparkins.com/

———Hear It———

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PodcastAddict: https://bit.ly/2V39Xjr

———Ep 98.1 Topics———

00:00 Intro: What condition is US employment and the labor force?
02:25 If the economy is booming / steady / reflating then why is the labor market cooling?
03:53 A market-clearing wage would clear up any labor shortage – so why won’t businesses pay?
08:04 ISM’s Manufacturing Employment Index has been falling since March 2021; it’s below 50.
12:01 The political establishment blames the US worker for laziness, greed, stupidity.
14:33 ADP payrolls, inflation, personal income peak and bottom to the beat of stimulus checks.
18:00 US consumption has not recovered to its pre-2018 trend; it has gone sideways recently.
20:11 NonFarm Payrolls for August were well below expectations and the lowest in 7 months.
21:49 ISM Services Employment fell a tad relative to July for August, but still expanding.
23:06 Outro: the lousy labor market data for August is not a recent development.

———Ep 98.1 References———

Yes And No Taper To Labor (and inflation): https://bit.ly/38E77YJ
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7

———Who———

Jeff Snider, Head of Global Investment Research for Alhambra Investments and Emil Kalinowski. Art by the pen of the people, David Parkins.  Podcast intro/outro is “UntrainedEye” by _91nova from Epidemic Sound.

 


Jeffrey P. Snider
As Head of Global Investment Research for Alhambra Investment Partners, Jeff spearheads the investment research efforts while providing close contact to Alhambra’s client base. His company is a global investment adviser, hence potential Swiss clients should not hesitate to contact AIP

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