However, the widening gap between job openings and the perception that jobs are plentiful may reflect the skills mismatch problem. Jobs remain relatively plentiful, according to the CCI survey. Given that initial unemployment claims are the lowest since November 1973 and that job openings are the highest on record, it’s hard to worry about the job market, though Fed Chair Janet Yellen always seems to find something troubling there. They might be depressed that Mom isn’t there to cook dinner for them and do their laundry. Millennials may finally be moving out of their parents’ basements and renting their own apartments. Oddly, there was a huge 22-point drop in the index for consumers under 35 years old during July. Yesterday, we learned that the Consumer Confidence Index (CCI) fell sharply during July to the lowest level since last September. The soft patch was back when June’s report showed retail sales fell 0.3%, while there were downward revisions to both May (from 1.2% to 1.0%) and April (0.2% to 0.0%). Where are we now? On the soft side, again. However, May retail sales blew that notion away: It increased 1.2% following upwardly revised increases of 0.2% (from 0.0%) in April and 1.5% (from 1.1%) in March. It seemed to be stuck in a soft patch during the early spring. The US economy skidded on an ice patch at the start of the year.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |