HIGHER UNEMPLOYMENT

Labor Market Rolling Over: Hiring Below 2014 Levels, Despite Rising Job Openings

Confrming that the US labor market is indeed rolling over, despite the near record (if modestly declining) number of job openings, the pace of hiring has failed to keep up, and slid once again in September, declining by 187,000 to 5.081 million. It was also lower than the September 2014 number of hires which was 5,092 million.

Yellen Will Not Be Pleased: Job Openings Miss Most On Record, Tumble To 2015 Levels

Considered Janet Yellen's "favorite job market indicator", today's JOLTS report revealed an unpleasant headline print: in August the number of job openings tumbled by 388K, the most in 12 months, to 5.443 million, the lowest print since December 2015, and the biggest miss to expectations on record which stood at 5.727MM. One reason for the disappointing print may be that last month's data was revised substantially higher to 5.831MM.

Job Openings In The US Unexpectedly Jump To Record High, As Pace Of Hiring Fails To Keep Up

Moments ago the BLS reported Janet Yellen's favorite labor market indicator, the JOLTS survey, which as expected (since it tracked the far stronger than expected July payrolls) showed that in July the number of job opening rebounded from the June drop to 5.643 million, jumping by over 200K jobs to a new all time high of 5.871 million, nearly 300K more than the 5.580 million expected.

"Central Bankers Are Killing Capitalism" Odey Warns, Moving Politics "Fast To Extremes"

"Central banks do their master’s bidding and governments tell them ‘stop recession at any price’... So what we have now is a world in whi ch the Have-nots are rising in number and, thanks to the workings of central banks, see the Haves still seemingly enjoying themselves on the back of rising asset prices. It is no wonder that politics are moving fast to the extremes."

Full Text Of Donald Trump's Convention Speech

To all Americans tonight, in all our cities and towns, I make this promise: We Will Make America Strong Again.
We Will Make America Proud Again.
We Will Make America Safe Again.
And We Will Make America Great Again.
THANK YOU.

Labor Market Continues To Deteriorate: Job Openings Tumble, Fewest Hires Since 2014

It wasn't just job opening which disappointed in May: so did the far more important, in our opinion, number of hires. In May, the BLS reported that the number of total hires was only 5.036MM, the third month in a row of declines, and the lowest print since November 2014 as suddenly employers clamped down on new (seasonally-adjusted) hiring.

Bank Of England Unveils First Easing Measures After Brexit

In its first official easing act, the Financial Policy Committee lowered the countercyclical-capital buffer rate for UK exposures to zero from .5% of risk-weighted assets in a move that it said would raise the capacity for bank lending to households and businesses by as much as £150 billion. "This action reinforces the FPC’s view that all elements of the substantial capital and liquidity buffers that have been built up by banks are to be drawn on, as necessary" the committee said in a statement.

Bob Janjuah Explains All That Is Wrong With The Financial System (And Remains Bearish)

"By dumping the responsibility for the heavy lifting for growth on central banks, we have ended up with asset bubbles, rampant speculation, lack of investment in productivity and in the real economy, significant levels of financial engineering to artificially boost earnings, and merely the (now failed) hope that “trickle down” still works. The outcome has been almost unprecedented levels of rising inequality in the global economy.  I suspect that it is this inequality that was behind a fair chunk of last week’s Brexit outcome and which has driven the rise of extremism across other important nations/blocs."