1️⃣Programs & Livestreams: https://metkevin.com/join 2️⃣Steaming https://metkevin.com/streamyard 3️⃣Life Insurance: https://metkevin.com/life.'>https://metkevin.com/life. ⚠️Wealth programs include ✔️lifetime access to lectures ✔️ private livestreams ✔️ free updates. Use code BACKTOTHEMOON expiring soon.
⚠️⚠️⚠️ #Jobs #JobsData #Spiral⚠️⚠️⚠️
1️⃣Courses & Livestreams: https://metkevin.com/join
2️⃣Streamyard: https://metkevin.com/streamyard
3️⃣Life Insurance: https://metkevin.com/life
4️⃣Download the "Meet Kevin" app FOR FREE in the Android or Apple store to NEVER miss an urgent notification again (Youtube won't send them all).
Programs on Building your Wealth:
🏡Real Estate Investing
🤵Real Estate Sales.
💰Stocks & Money.
🧰DIY Property Management, Rental Renovations, & Asset Protection.
⚠️YouTube Program [Make Money from Home].
💰Your Path to Wealth.
https://metkevin.com/join
Every program INCLUDEs:
✔️Private Livestreams with Kevin.
✔️Lifetime Access to Content.
✔️Private Chats & Content/Question Submission to Kevin.
✔️FREE New Lectures / Regularly Added Content.
✔️Bundle Offers.
✔️Lowes Discounts for ALL Course Members.
✔️Early Access to Series A with Kevin.
https://metkevin.com/join
📝Contact Information for Kevin & Liability Disclaimer: http://meetkevin.com/disclaimer
Videos are not financial advice.
⚠️⚠️⚠️ #Jobs #JobsData #Spiral⚠️⚠️⚠️
1️⃣Courses & Livestreams: https://metkevin.com/join
2️⃣Streamyard: https://metkevin.com/streamyard
3️⃣Life Insurance: https://metkevin.com/life
4️⃣Download the "Meet Kevin" app FOR FREE in the Android or Apple store to NEVER miss an urgent notification again (Youtube won't send them all).
Programs on Building your Wealth:
🏡Real Estate Investing
🤵Real Estate Sales.
💰Stocks & Money.
🧰DIY Property Management, Rental Renovations, & Asset Protection.
⚠️YouTube Program [Make Money from Home].
💰Your Path to Wealth.
https://metkevin.com/join
Every program INCLUDEs:
✔️Private Livestreams with Kevin.
✔️Lifetime Access to Content.
✔️Private Chats & Content/Question Submission to Kevin.
✔️FREE New Lectures / Regularly Added Content.
✔️Bundle Offers.
✔️Lowes Discounts for ALL Course Members.
✔️Early Access to Series A with Kevin.
https://metkevin.com/join
📝Contact Information for Kevin & Liability Disclaimer: http://meetkevin.com/disclaimer
Videos are not financial advice.
Hey everyone meet kevin here. This video is brought to you by stream yard, because when i live stream i stream yard go to mattkevin.comstreamyour to learn more okay folks, we just got the unemployment data. We were expecting 318 000 jobs. We came in at 390, 000 jobs.
So that's a bead, it's down from the prior of 428 unemployment rate did take up to 3.6 percent with the average hourly month over month earnings. This is a big one. Okay month over month, earnings, when those take up too much, we start worrying about a wage price spiral right. Well, we came in with an expectation of 0.4, which would be 4.8 percent annualized.
Anything under 5 is ideal right now we ended up getting 0.3. That's 3.6 percent annualized really really good. That is this is what we want to see. We want to see that wage growth start slowing down a little bit, so the fed can go okay, good, no wage price spiral, no need to paul, volcker, the economy.
Things are slowly chilling out a little bit wages still up 5.2 percent year over year and we've got the labor force participation rate taking up a 0.1, which is a good uh. 7.4 percent of people teleworked still that's down from seven point: seven percent in the prior month and down from like thirty percent during the pandemic, which is kind of crazy. Still one point: eight million people reporting that they're unable to work because their employer closed or lost a business due to the pandemic. It's also interesting that they're still reporting that going to a little bit of the survey in terms of where these jobs actually came from, and then i want to touch on the adp report from yesterday as well.
We have employment, increased 36, 000 in government education, construction, jobs up 36, a thousand. We have an increase in transportation, warehousing of 47 000 professional business services up 75 000 leisure hospitality, up 84 000 non-farm payroll in total 390 increase, so still seeing that hiring healthcare up 20 000 mining up 18 000. Not talking about crypto mining, speaking of which new york is now thinking about pausing any crypto mining for two years for new permits for companies using uh, non-renewable energy, so any kind of coal-fired uh. You know bitcoin usage, sorry, two years, no new mining, not that! I think a lot of companies are starting a lot of new mining companies right now, anyway, vtc dropping as soon as the tesla news came out this morning on hiring and a hiring freeze.
We saw btc drop right under 29k. Anyway, employment in retail trade declined by 61 000 in may, but is still 159 000 above its february level kind of interesting job losses. Over the month. Job losses occurred in general merchandise, stores, minus 33 000 within that clothing and clothing, accessories down 9 000 building materials and garden supply stores down 7 000.
So that's kind of where you're starting to see those cracks apparel home improvement. That's not that much of a surprise! Although lulu's still killing it, i think the pain is still ahead for them. They just had an excellent earnings report. Okay, so adp report from yesterday, i want to touch on the adp report. This gives us a little bit of an idea of where we're getting hit hardest in some of the jobs losses. We have small businesses in the adp report losing 91 000 jobs mid-sized. This is usually 20 to 50, plus growing 97 000 jobs and large companies growing 122 000 jobs. That's the adp estimate of the unemployment report, but it's very interesting that it's small businesses, what we're getting highlighted here, that small businesses are having the largest amount of cuts and it's not uncommon for small businesses to start seeing recessionary environments much sooner back in december.
Around december, you know we started seeing the market kind of tick down december 6th, then on by december 20th, or so i started thinking to myself. Oh man, it's probably time to really start thinking about saving cash as a business owner, and i think small businesses are sometimes your your early sort of warning signs of oh cuts to come right and now, of course, we're seeing uh coinbase freeze, hiring refunding people for Some of the hiring that they've done, like hey sorry, we gave you a job offer we're taking that back, tesla planning to cut ten percent of its workforce. Uh we've got some definite cracks in the economy, but i'll tell you. One of them is not the average hourly earnings rate going to the moon.
Thank goodness because if that were happening, you'd have to dump everything because we'd be getting paul, volcker. In fact, remember. We talked about this a lot of course, and not only the programs, i'm building your wealth link down below. But of course, here on the channel back in january, we were concerned about a wage price spiral.
We had wages going up to the tune of almost nine percent that was greater than the inflation rate. That was a really big danger that ended up getting revised down to like six and a half percent a month later and february march, and all the subsequent data showed those declining uh wages, or rather that declining wage growth on a month-over-month basis, which is very, very Important we do not want a wage price spiral. Even jerome powell has bluntly told us. A wage price spiral would be absolutely unacceptable like if there's one thing where they just hard.
Stop it's wage price spiral. So so so bad in case you don't know what that basis. Basically is wages go up at a rate that's higher than the level of inflation? Then you actually self-fulfill more inflation and you potentially destroy an entire currency. Very, very bad.
I think turkey just reported their annualized inflation rate is like over 74. That is the kind of currency that ends up dying and it could lead to a fundamental change at an entire government as well. Although we probably need some fundamental change at our government too anyway. Uh make sure to check out our sponsor today, medkevin.com streamyard, to learn more about professional broadcasting. Thank you. So much streamyard phenomenal platform love highlighting the comments up on screen when we're live. Appreciate you coming in thanks so much for being here and we'll see you next. One bye.
how did you think to save cash on december 20th last year, when at start of January you were wanting to buy a plane… come on…
Kevin, u gotta speak louder, ur new mic suck
13/16 of inflation is transitory.
how can wages be going down while gas prices are going up? yikes
WAGE SPIKE YAY
AND DEFLATION
WANT MY VOTE PAY ME MORE TREASON GOP
in tired of sweating covid
I GOT COVID YOU GOP OWE ME MILLIONS CAUSE IT HAS DAMAGED MY LIFESTYLE
You really, REALLY need to stop having such misleading titles.
Your financial news updates are the best right now, and I subscribe to Bloomberg.
I left my job at the end of 2020 and got hired back on in Jan 2022 with a 23% increase in pay.
FEDs have been saying 1.75 to 4.50% for over a year. People out there act like it’s new. Dems pushing for $15/hour minimum wage not understanding wage price spiral.
Why is the title DISASTER?? Long term? Short term, the market is not liking it.
There goes the market another mini crash incoming.
Disaster? Sounded like good news.
Where was the disaster?
Oh, I see, it was in the headline 😄
Im really loving that booming biden economy
Nice thumbnail Tard. You only think you in the club. The claw is coming for you.
Nice bait click! Great video, should get lots of views
Small business losing jobs because people started their own business and sadly failed during the pandemic.
We’re just the scene at the end of pirates of the Caribbean at Worlds End where we’re stuck in a whirlpool on a boat fighting the British navy (The Fed)
Thanks for making these videos so fast! Keep up the good work!
Elon Musk freezing all hiring and cutting 10 percent because he has a “bad feeling about the economy”. Jamie Dimon from JP Morgan saying a “hurricane” is coming for the economy. It’s not looking good. Especially because if jobs and the economy is not stopping growth then interest rates will end up being even higher because the feds will be more hawkish
Thanks. For all you do man😎👍 Great updates sirrrrr🤩
> “Unemployment rate did tick up”
The unemployment rate has been at 3.6% for 3 straight months now though… ?
Thanks. For all you do man😎👍 Great updates sirrrrr🤩
Surprise! Huge interest rates increases coming
Morning brother thanks for everything u do
Looks like I'll be clearing blocked toilets for another few years yet 🪠🪠🪠❤️❤️❤️
Kevin is at it again! I am inspired by his channel. Kevin inspires me to continue my own YouTube channel on Finance and Investing.