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White-collar employment is weakening (Patreon)

Published:
2024-08-28 18:36:32
Imported:
2026-06
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Content

The US labor market is crashing.

The number of employees in professional & business services and financial & information industries rose just 0.6% year-over-year in July, the lowest since March 2021.

In other words, employment in these industries has increased by just 126,000 over the last 12 months.

White-collar job growth has been steadily declining for the last 3 years.

In the past, such a significant drop was only seen in 2000-2001, the 2008 Financial Crisis, and the 2020 Pandemic.

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Comments

Seeker

Looking at the graph, seems worse is yet to come. It is 'still' +ve at 0.6%, but dropping fast.

Gonzo

It's certainly the case down here in NZ also. Tough times all round currently. I feel for those struggling to put food on the table

Sharkie

We got money for wars but can't feed the poor. Hundreds of billions sent to Ukraine and Isnotreal while we have millions of Americans living in poverty or on the streets

Rob

And you're still bullish on Tesla?...

Pathfinder123

I think we are already in recession.

⚡️Patrick⚡️
>>147837027

He has a long term view but agree if the data looks bad how why not sell more investments or wait a few months to buy

BTCMiike

I have been lucky being my own boss my whole life. Commercial fishing was a great way to make a living but it was never as easy as everyone thought it was. So many times people would say they would love my job and would give anything to do it. It always made me think of the days and night where we would spend them breaking ice off the rigging to keep from rolling over and sinking.

⚡️Patrick⚡️

James spreading FUD again (though it’s reality) without offsetting counterbalance of positive facts 😳

Step Ahead

Questioning how soft this recessions going to be??

Bottom Feeder

When is the Biden admin. going to come clean with the real numbers?

BTCMiike
>>147838508

Patrick, It sometimes are these little clues that point to a future direction. I will never forget the day the dow hit 14,000 Jim Crammer was all over the Tv screaming all the ways the dow was heading to 16000. At that same time credit Card debt was huge and getting worse along with mortgage defaults. I did go short but closed the positions what turned out to be way too soon but it was the little things that pointed to the larger problems GL2U

Crypto Monte
>>147864193

He inherited the mess from the previous administration that produced less than this present term. Just the stats which speaks volumes

Roo Mueller
>>147841696

I hope to God this shit burns and crashes like never before, I started with nothing so doing so with a low entry cost market is easy.