New Job Stats Show That This Economy Is Going to Be a Bumpy Ride

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A new survey shows that there has been a decrease in hiring across all economic sectors. Employers are starting to understand that Joe Biden’s economic crackdown is going to have a significant impact on the economy up through 2025.

The White House is creating a shortage of energy that is increasing government-triggered inflation. This is causing a contraction in 17 of the 20 jobs markets.

It’s helpful to find out where the fault lies. But, complaining won’t get your milk, formula, or diapers at the local store.

The 2008 economic meltdown appears to be a sequel. Economic captains seem to believe so.

LinkedIn reported that overall employment fell month-over-month even though seasonal hiring was up.

LinkedIn’s Workforce Report shows that U.S. employment fell 4.9% in November, compared with October. This is a 20.5% decrease compared to a year ago.

Florida is a state that is free, but it’s still feeling the pinch. Florida is home to more people than any other state.

Slowdowns were observed in all 20 metros tracked by LinkedIn. Miami/Fort Lauderdale was the most sought-after job market in 2021, with an 8.1% decline in new placements.

Guy Berger, LinkedIn’s Principal Economist, says that companies in Texas have also begun to freeze their hiring. This is contrary to recent levels.

It’s also interesting to see how the metro area rankings have changed. Some places that have benefited from the 2021 job boom are not as high as they were in the past, like Austin and Miami. This is the mean reversion!

LinkedIn reported that the level of current hiring is 11.8% lower (February 2020) than levels pre-COVID. Indeed, 17 industries have reported a decrease in hiring.

These numbers were calculated using LinkedIn’s 191,000,000 users.

Be aware of the headwinds that are coming. This economy could be very turbulent.