Job Openings Collapse in “Information” Sector Most since Dotcom Bust, But Jump in Vast Other Sectors, amid Overall Low Layoffs & Discharges, Strong Hiring, Still Massive Churn by Wolf Richter • Feb 1, 2023 • 132 Comments In tech & social media, the labor market got shot. In the rest of the economy, it remains very tight.
The Most Splendid Housing Bubbles in America, January Update: Now Phoenix, Las Vegas, San Francisco, Seattle, San Diego Plunge Fastest by Wolf Richter • Jan 31, 2023 • 240 Comments This takes some doing: San Francisco Bay Area house prices plunged faster from the peak than they’d spiked to the peak.
EV Competition Finally Produces Results: Ford Cuts Prices on Mustang Mach-E, after Tesla, Kia, Hyundai, Chevrolet, Nissan Cut Prices on their EVs by Wolf Richter • Jan 30, 2023 • 93 Comments EVs now start at $27,000, about $20,000 below the average new-vehicle transaction price. That’s a good thing all around. Except for stock prices.
Back-to-Back Market Smackdowns Coming from the Fed and ECB. Could Be a Hoot by Wolf Richter • Jan 28, 2023 • 258 Comments Surly frustrated central bankers telling euphoric markets that the inflation fight is far from over.
Consumer Spending on Services Keeps up with Raging Inflation in Services. Spending on Goods Falls as Prices Drop, Demand Fizzles after Pandemic Binge by Wolf Richter • Jan 27, 2023 • 88 Comments Raging inflation is a tough nut to crack for income.
Services PCE Price Index Spikes, But Goods PCE Price Index Falls as Energy Prices Plunge: Core PCE Re-accelerates by Wolf Richter • Jan 27, 2023 • 80 Comments Services inflation is tough to stamp out, and it has taken over inflation. Powell will be talking about it.
No Landing Yet: Consumers Refuse to Give Up, Government Spending Jumps, Inventories Rise toward Trend, Trade Deficit Less Horrible by Wolf Richter • Jan 26, 2023 • 114 Comments Annual GDP for 2022 rose at average pre-pandemic rate, strong second half, weak first half. “Freak event” that sunk Q1 GDP completely unwound.
Bank of Canada: “We’re Pausing to Assess Whether We’ve Done Enough,” Hikes by 1/4% to 4.5%, QT Continues by Wolf Richter • Jan 25, 2023 • 97 Comments Will pause if inflation projections pan out. If not, more rate hikes on the table. Frets about upside risks to inflation from services, labor market, China
What’s Behind the Tech & Social Media Layoffs? by Wolf Richter • Jan 25, 2023 • 114 Comments Drunk with Easy Money, companies were hogging office space and workers for a future that did not come.
“Wetsuit Shaming,” LOL: WOLF STREET Drags WSJ Through San Francisco Bay Mud for the Clickbait Flotsam it Published about Cold-Water Swimming by Wolf Richter • Jan 24, 2023 • 114 Comments Kudos to the Wall Street Journal for having excelled once again with such acuity.
