If you are wondering why the Fed just initiated QE5, the answer is the US economy is imploding as more than one million layoffs have already taken place in America.
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This Is All That Needs To Be Said About The Recent Trading Action…
December 16 (King World News) – Gerald Celente: Through November this year, U.S. companies have announced layoffs of 1.17 million workers, workforce consulting firm Challenger, Gray & Christmas reported.
November’s cuts totaled 71,321. The month has seen more than 70,000 jobs lost only twice before in this century, once in 2008 as the Great Recession set in and again in 2022 as the COVID War and inflation wreaked havoc on the economy. November’s number is 54 percent greater than during November last year, the firm noted.
Tariffs were the stated reason for 2,000 jobs lost last month and 8,000 for the year to date, although the number is thought to be greater. Tech companies said last month they are dumping 12,377 workers, raising the sector’s 2025 total by 17 percent above last year’s. Artificial intelligence is to blame for 54,694 tech jobs lost this year, Challenger said…
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ADP, a private payroll service, tallied 32,000 jobs cut by its clients last month, the third monthly reduction since August and the largest one-month number since before mid-2023. Small businesses were more active in shedding workers than bigger ones, ADP said.
“I see [small businesses] as a canary in the coal mine,” perhaps presaging a more widespread decline, ADP chief economist Nela Richardson told The Wall Street Journal.
Also through November, employers have announced plans to hire 497,151 workers this year, down 35 percent from 2024.
Although stark, November’s announced firings were less than half the 153,000 that companies revealed in October, Challenger added.
“The labor market seems to be maintaining its slower but steady overall pace,” Vanguard economist Josh Hirt told the WSJ.
These private estimates point to a trend but they lack the breadth and heft of official data, which is still suffering from the government shutdown. The Bureau of Labor Statistics is skipping the October jobs report entirely and will not release November’s figures until 16 December.
Meanwhile, the U.S. Federal Reserve’s Open Market Committee will meet on the 9th and 10th of this month to debate whether to cut the bank’s key interest rate and, if so, by how much.
“The lack of official data has contributed to divisions among policymakers at the Federal Reserve, who disagree about how to weigh the risk of a weakening labor market against the possibility of worsening inflation,” according to the WSJ.
While the Fed is likely to cut its policy rate by a quarter point, the vote is unlikely to be unanimous among committee members—a rare event.
TREND FORECAST:
A quarter-point reduction in the Fed’s key interest rate would be welcome but would not be enough to overcome the structural factors assailing the jobs market.
Those factors include persistent inflation, weakened consumer spending, a sluggish worldwide economy and the reality that Wall Street and Main Street are two different worlds. Again, by the facts, the rich keep getting richer in America and the middle class keeps shrinking. As reported, the top 10 percent are responsible for nearly 50 percent of spending in the United States.
A Fed rate cut also would run the risk of nudging inflation upward, which could worsen the currents now undermining the consumer economy’s strength.
Historic Breakouts Will Send Gold & Silver Prices To Levels That Will Shock The World!
Michael Oliver discusses exactly what investors need to be doing with gold, silver, mining stocks and so much more and you can listen to it by CLICKING HERE OR ON THE IMAGE BELOW.
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