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Consumers Have NO MORE Savings...
Manage episode 437649345 series 2679639
The most significant macro data from the past week certainly wasn't GDP (it wasn't even the most important datapoint within its own series), instead it was personal savings. It is yet another confirmation of what we've been hearing from across the economy and markets. Consumers are tapped out, and they're out of money because of jobs and incomes.
Eurodollar University's conversation w/Steve Van Metre
BLS Metropolitan Area Employment and Unemployment (Monthly)
https://www.bls.gov/web/metro.supp.toc.htm
BLS Over-the-year percent change in total private average weekly earnings for metropolitan areas, not seasonally adjusted
https://www.bls.gov/charts/metro-area-employment-and-unemployment/metro-area-oty-percent-change-in-average-weekly-earnings.htm
Challenger, Gray, & Christmas Challenger Report: Job Cuts Remain Low While Hiring Falls to Lowest YTD Since 2012
https://www.challengergray.com/blog/challenger-report-job-cuts-remain-low-while-hiring-falls-to-lowest-ytd-since-2012/
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
890 episode
Manage episode 437649345 series 2679639
The most significant macro data from the past week certainly wasn't GDP (it wasn't even the most important datapoint within its own series), instead it was personal savings. It is yet another confirmation of what we've been hearing from across the economy and markets. Consumers are tapped out, and they're out of money because of jobs and incomes.
Eurodollar University's conversation w/Steve Van Metre
BLS Metropolitan Area Employment and Unemployment (Monthly)
https://www.bls.gov/web/metro.supp.toc.htm
BLS Over-the-year percent change in total private average weekly earnings for metropolitan areas, not seasonally adjusted
https://www.bls.gov/charts/metro-area-employment-and-unemployment/metro-area-oty-percent-change-in-average-weekly-earnings.htm
Challenger, Gray, & Christmas Challenger Report: Job Cuts Remain Low While Hiring Falls to Lowest YTD Since 2012
https://www.challengergray.com/blog/challenger-report-job-cuts-remain-low-while-hiring-falls-to-lowest-ytd-since-2012/
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU
890 episode
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