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All eyes are on the U.S. economy right now. The labor market, in particular, has statistics that act like a yo-yo. We have more information later in this email. 

💵 Today’s Top Stories

📉 LinkedIn Job Data Shows Significant Downtrend

The labor market is a huge focus of the U.S. economy right now.

It’s also confusing. There’s all sorts of layered data, arguments about which data to trust and sometimes, major revisions to job numbers that come out months later.

With the Fed poised to cut interest rates and seemingly paying close attention to the labor market, it’s an interesting dynamic to monitor. Especially since inflation dipped below 3% in July.

Opening Bell Daily, a respected email newsletter focusing on the economy, contacted professional social networking site LinkedIn for their data.

According to LinkedIn, the overall hiring rate fell 7.9% from July 2023 to July ’24.

Also according to the report, healthcare and government jobs “have accounted for most of the job growth” in terms of raw numbers.

In the last 12 months, tech and media jobs also have increased 7.2%. Every other sector was flat or saw a decline.

Only five cities are currently hiring at pre-pandemic levels:

• Nashville, Tennessee

• Dallas, Texas

• Austin, Texas

• Phoenix, Arizona

• Miami, Florida

People are also quitting jobs at a slower rate and being more aggressive when job searching.

📊 Stat of the Day

💰️ Deal Alert: Today’s Top Deals

🎙️ Podcast

The stock market can have major swings. Unfortunately, the volatility can cause us to panic and take our money out in response. However, numbers show that missing the best 10 days in any given year over a 25-year period can reduce your return from 9% to under 6% – and it gets worse the more time your money is not invested! CERTIFIED FINANCIAL PLANNER® Wes Moss, a managing partner with Capital Investment Advisors, joins Christa to discuss the financial consequences of taking money out and why it’s important to stay calm in any market. Also, the stock market is a marathon, but how do we buffer ourselves from the stress of risk? Wes talks about the “dry powder” principle. It can help us be better investors and help keep our wallets safe! Plus, they discuss Social Security later in the show. Is waiting to take Social Security wise or is it a scam?

☎️ Need Money Help?

The Team Clark Consumer Action Center is a free helpline that can help you navigate your money questions. Call 636-492-5275. Visit clark.com/cac for more information.

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