Wow. The unemployment rate for 16-24 year-olds is now at 10.5%
Kevin Gordon
10.2K posts
Kevin Gordon
@KevRGordon
Head of Macro Research and Strategy, Schwab Center for Financial Research Disclosures: aboutschwab.com/social-media
New York, NY
Joined January 2024
- Stunning. U.S. imports of consumer goods have plunged by 43.9% over the past 3 months ... that is the largest decline in history
- “Saudi Arabia is ready to abandon its unofficial price target of $100 a barrel for crude as it prepares to increase output, in a sign that the kingdom is resigned to a period of lower oil prices, according to people familiar with the country’s thinking.” on.ft.com/3BfPfFg
- U.S. pending home sales have fallen to a new all-time low
- This is quite stunning. Look at the revisions for May and June. May was originally +144k jobs; now +19k. June was originally +147k; now +14k. There were also huge downward revisions for the trade and transport industry.
- Nobody will remember: -Your salary -How "busy" you were -How many hours you worked People will remember: -Whether you were calling for a 25bps or 50bps cut
- Replying to @RampCapitalLLC"...while trying to do math on a calculator" is absolutely sending me
- The 10 largest stocks in the S&P 500 now represent 39.9% of the index's market cap
- The number of people employed in the semiconductor manufacturing industry is plunging
- Manufacturing payrolls have contracted for 4 straight months. We have not seen that since the beginning of 2020
- Per the @WSJ: Pre-tariff, cost for Apple to make the iPhone 16 Pro = $550 Post-tariff, cost to make the iPhone 16 Pro = $850
- Unemployment rate in: January: 4.011% February: 4.139% March: 4.152% April: 4.187% May: 4.244%
- Oof. 40% of of items in the CPI were based on different cell imputation in September ... that means data collectors had to fill in missing data by using values from a related but different category or geographic area
