We are seeing some mixed information. However, the trend for tighter economic conditions, in my opinion, still holds.
In this video I discuss how the positive of a drop in first time unemployment claims is being offset by a drop in productivity.
▶️ 3Speak
The drop in unemployment has a lot to do with people's claims expiring verses new job growth, people forget how that number is reported. Most people have 6 months to a year for their claims.
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That is true although it did coincide with the ADP report which showed about 500K jobs added.
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I think the holiday hiring is probably affecting the numbers and I think people's stimulus money has already faded away. Relying on unemployment isn't really going to help forever as it will only pay for a certain amount of time. An economic contraction is inevitable in my opinion.
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Yeah far enough past the end of the federal unemployment that I dont believe it is a factor anymore.
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