Smart Macro: Jobs Data Divergence Nearing Recessionary Levels

March 15, 2024 – Financial Sense Wealth Management's CIO, Chris Puplava, explores the widening gap between the US government's optimistic portrayal of a robust economy and a tight labor market, as opposed to the concerning state-level unemployment data, temporary help layoffs, and other indicators that are surging towards levels typically associated with an economic downturn. See charts below discussed on today's show.

To speak with any of our advisors or wealth managers, feel free to Contact Us online or give us a call at (888) 486-3939.

Stay ahead of the market! Subscribe to our premium weekday podcast

California Unemployment Level Rises to 5.2%

california unemployment rate
Source: Bloomberg, Financial Sense Wealth Management

86% of States with Rising Unemployment Above 1-Year Average

state level unemployment
Source: Bloomberg, Financial Sense Wealth Management

Growing Divergence Between Household and Nonfarm Payroll Data

household vs nonfarm payroll data
Source: Bloomberg, Financial Sense Wealth Management

Drop in Fully Employed

fully employed drop
Source: Bloomberg, Financial Sense Wealth Management

Drop in Temp Employment

temp unemployment
Source: Bloomberg, Financial Sense Wealth Management

S&P 500 Breadth

s&p 500 breadth
Source: Financial Sense Wealth Management, Bloomberg. Past performance is no guarantee of future results. Indices are unmanaged and cannot be invested into directly.

Russell 2000 Breadth

russell 2000 breadth
Source: Financial Sense Wealth Management, Bloomberg. Past performance is no guarantee of future results. Indices are unmanaged and cannot be invested into directly.

Russell 3000 Breadth

russell 3000 breadth
Source: Financial Sense Wealth Management, Bloomberg. Past performance is no guarantee of future results. Indices are unmanaged and cannot be invested into directly.
Financial Sense Wealth Management: Invest With Us
.
apple podcast
google podcast
spotify