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- Daily Scoop 22-8-8
Daily Scoop 22-8-8
👋 Your Monday Scoops - Abortion moves Eli Lilly & Amazon maps your home
Today's Scoop:Snooze
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Big Picture
Unemployment is historically low.
Small businesses are struggling to find workers.
Consumers are worrying less about inflation.
The Market:
⬇️
-0.1%
S&P 500: 4,140.06
1Mo:
+8%
| 1Yr:
-7%
| 5Yr:
+70%
Markets continued the drift lower from Friday as investors debated the health of the economy.
Unemployment is historically low.
The Labor Department on Friday reported an increase in US employment by 528,000, more than double what economists expected. The unemployment rate is 3.5%, tied for the lowest since 1969.
Every job lost from the pandemic has been recovered.
The strength in the labor market means the Fed will have room to keep restricting the economy to cool inflation.
The economy is running too hot.
Small businesses are struggling to find enough workers to meet demand.
A report from the National Federation of Independent Business found nearly half of all small businesses have roles they can't fill.
Consumers are expecting prices to stop rising so quickly.
The Federal Reserve Bank of New York reported consumer inflation expectations fell significantly amidst declining gas and commodity prices.
Company Scoops ❤🌎💰
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Eli Lilly
-
Amazon
-
AMC
-
DoorDash
-
Beyond Meat
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🤓 Inside Scoop...
There are three main reports people watch to understand trends in the
labor market
. The U.S. Bureau of Labor Statistics puts out the most important monthly "
jobs report
" highlighting the unemployment rate, new jobs added, and wage growth. There's also a monthly private-sector survey from payroll services company ADP that doesn't include government jobs, and the weekly initial unemployment claims (a proxy for layoffs) report from the Labor Department.
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