ECONOMICS

One month after the "catastrophic" August JOLTS report presaged the ugly September jobs report,  which in turn prompted the Fed to cut a "jumbo" 50bps and spooked markets that a recession was imminent, moments ago the BLS reported that in September (as a reminder, the Job Openings and Labor Turnover report lags the Payrolls report, which is due on Friday, by one month), job openings unexpectedly jumped by 329K from an upward revised 7.711 million in July (up from 7.673 (more…)

Authored by Daniel Lacalle,

Global liquidity is expanding. In the past three months, the global money supply has soared by $4.7 trillion. This rapid increase started when the Federal Reserve panicked the first time and delayed the normalization of the balance sheet in June.

Since then, we have seen a chain of fresh stimulus policies implemented by developed economies, adding to the large fiscal packages already in place. Multi-trillion-dollar investment packages like the EU (more…)

By Stuart Chirls of FreightWaves,

East and Gulf Coast port employers on Thursday raised the stakes in contract negotiations with the International Longshoremen’s Association, asking the National Labor Relations Board to order the union back to bargaining.

“Due to the ILA’s repeated refusal to come to the table and bargain on a new Master Contract, USMX filed an Unfair Labor Practice (ULP) with the National Labor Relations Board and requested immediate injunctive relief — requiring (more…)