* China’s EVs are going global–and Detroit isn’t ready to compete
* Bitcoin tops $59,000, near a record high
* US home prices increased to record high in December
* US Consumer Confidence Index slips in February–first decline in 3 months
* US durable goods orders fell more than expected in January, but…
* Subset of new orders (a proxy for business investment) rebounded:
It’s different this time: employment vs. job vacancy rate edition. As highlighted by Federal Reserve governor Christopher Waller, job vacancies have been rising while unemployment dropping — an unusual/unprecedented trend that’s been a key factor in the soft landing for the economy.
Given that the dots/paths of the data are largely downward sloping, why is it “unusual/unprecedented” that we see the trend of “job vacancies … rising while unemployment dropping”?
KevinT,
The nearly vertical descent of the job vacancy rate from March 2022-Dec 2023 is unusual in the sense that the unemployment rate remained basically unchanged. The “normal” change in unemployment for such a decline in the job vacancy rate would be an increase in unemployment, or so the graph suggests.
–JP