Jobless Numbers Fall: Is the Economy Back to Normal?
The COVID-19 delta variant is still raging throughout the U.S. — but it’s not causing huge rounds of layoffs like the original virus strain did in 2020.
That being said, millions of Americans are still jobless. And paradoxically, employers are having trouble filling open positions.
In the job market, demand is outpacing supply.
According to a September 8 The Wall Street Journal article, August job postings on Indeed.com were up 39% over the prior month. In July, there were about 83 workers for every 100 job openings.
Until the delta variant slows down, it’s unlikely that hiring will pick up at the rate employers need.
Fears of getting sick, as well as the constant need for childcare, are still keeping a large percentage of the U.S. labor pool at home.
Employers are responding to these concerns by offering more remote positions, raising wages, offering large sign-on bonuses and floating other perks to attract workers.
And there’s preliminary evidence that these incentives may be working: Weekly jobless claims just reached a new low.
There were 310,000 claims for the week of August 29 to September 4. That’s the lowest the number has been in the U.S. since the beginning of the pandemic!
Only time will tell if these incentives will truly be the catalyst for getting Americans back to work over the next several months.
And if you’re one of the millions of Americans currently out of work, there’s something you can do to protect your retirement account from Wall Street’s greed.
You see, Wall Street has a dirty secret: Its tactics are designed to take your money away from you and give it to people who already have far more than they’ll ever need.
But you don’t have to stand by and let the rich benefit from your hard work.
Former hedge fund manager Ian King knows all of the Street’s tricks — and how to beat them.
In this new report, Ian tells you exactly how you can start taking your hard-earned money back and grow your nest egg more than you ever dreamed.
Click here now for all the details.
And if you missed any of our experts’ insights this week, keep reading below!
This Week’s Featured Topics
Our experts touched on several different topics for your investments this week.
“Goldilocks economy” describes the ideal state for an economic system — one that’s not so hot that it causes inflation, but not so cold that it causes a slowdown. When the U.S. economy finds this “sweet spot,” the stock market tends to stay in a bullish uptrend … and there are signs that we might be there right now.
Tesla wants to launch a fully autonomous electric vehicle (EV) by 2023. Tentatively named the Model 2, this car’s price could be 38% lower than other cars. This will be good for EV production overall — but even better for companies that make the components EVs can’t function without.
On Tuesday, El Salvador became the first country in the world to recognize bitcoin as legal tender. This was an exciting development for crypto bulls — but presented a lot of problems for Salvadoran citizens. Despite the rocky start in El Salvador, cryptos offer huge wealth opportunities for low-earning nations.
Some people are calling Tesla’s new EV the “Model 2.” The cool thing about it is there won’t be a steering wheel or pedal — the car will completely rely on autonomous driving. And at only $25,000, the Model 2 is remarkably cheap. In this video, Steve Fernandez discusses how the Model 2 will affect the EV market and what it means for tech investors.
The Smart Profits Daily Team