Are There Really More Job Openings Than Unemployed People?

Touting the success of the Trump administration and Republican leadership, Rep. Lou Barletta (R-Pa) said in a recent campaign stop that “there are now more job openings than there are unemployed people in the United States.” Many in the media cried foul at that assertion, labeling it typical Trumpian hyperbole, but it turns out to be true.

According to the Labor Department’s JOLTS (Job Openings and Labor Turnover Survey) report, since March there have indeed been fewer unemployed Americans than available jobs. This has not happened since the Labor Department began tracking job openings 18 years ago in 2000. It is indisputably a significant milestone, and one wonders why it hasn’t been promoted more loudly and widely. Could it be that Democrats don’t want to acknowledge Trump’s economic successes…and that Republicans don’t want to acknowledge that maybe just maybe we could use some immigrants to help ease the acute labor shortage? The chart below was published on theatlas.com.

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Inventions That Make Life a Little Easier

necessity is the mother of invention… Businesses have been finding innovative solutions to labor issues forever. For example, dogs were once bred to cook, according to Popular Science’s podcast, The Weirdest Thing I Learned This Week . When people relied on fire to roast meat, the spit was an invaluable tool. However, turning a spit for hours wasn’t a popular job, so dogs were bred and trained to turn spits. “The first mention of the turnspit dog…was in 1576…The long story short here is that people bred terrier-like dogs to…fit easily into these treadmills that powered various kitchen aids, but primarily the roasting spit.” By some accounts, the poor working conditions of turnspit dogs in New York hotels contributed to the founding of the American Society for the Prevention of Cruelty to Animals (ASPCA). Today, pandemic labor shortages have sparked innovation. Companies that are having difficulty finding workers are adopting technological solutions. F...

Another Tornado Record's in Sight for U.S. as Thunderstorms Boom

Bloomberg by Brian K Sullivan Another wave of tornado-spawning thunderstorms is set to rip across the Great Plains and South this week, putting the U.S. within reach of a record year for life-threatening twisters. Severe storms will drench a swath of the country from Texas to Mississippi over the next five days, according to the U.S. Storm Prediction Center. Through Thursday, 369 tornadoes have been reported across the country, the most in five years and more than double the normal number of sightings. An active jet stream and unusually balmy weather are to blame for the burst of deadly tornado activity, the storm prediction center said. Strong winds have dragged storms into the warm, humid air that’s blanketed the eastern half of the nation, creating conditions ripe for a weather phenomenon that leads to at least $400 million in damage a year in the U.S. “We have a severe threat starting today and continuing for each of the next five days through at lea...

Womack Weekly Commentary: September 18, 2017

Womack Weekly Commentary September 18, 2017 The Markets “In theory, there is no difference between theory and practice, in practice there is.” Yogi Berra was talking about baseball, but the concept also applies to diversification, according to the GMO White Paper, The S&P 500: Just Say No . From the title, you might think the authors – Matt Kadnar and James Montier – don’t like U.S. stocks. They do: “Being a U.S. equity investor over the past several years has felt glorious. The S&P 500 has trounced the competition provided by other major developed and emerging equity markets. Over the last 7 years, the S&P is up 173 percent (15 percent annualized in nominal terms) versus MSCI EAFE (in USD terms), which is up 71 percent (8 percent annualized), and poor MSCI Emerging, which is up only 30 percent (4 percent annualized). Every dollar invested in the S&P has compounded into $2.72 versus MSCI EAFE’s $1.70 and MSCI Emerging’s $1.30.” The au...

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