My one-hundred-and-sixty-third YouTube video “Jobs: the Recession Barrier Erodes” went up today.
Are we in a recession or not? Many economists argue that because there’s strength in the labor market, we can’t be in a recession. But what we’re starting to see is that many companies, like Walmart (WMT), Tesla (TSLA) Warner Brothers—Discovery (WBD), Peloton (PTON), and Compass (COMP) are cutting jobs. Many of these cuts are so recent that they’re not included in official backward-looking data. The market right now is hoping for a soft landing, but these cuts lead me to think that a soft landing isn’t in the cards.
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Here’s the link: