What The Feds DON'T Want You To Know About The Job Market
Published: 2024-07-25
Status:
Available
|
Analyzed
Published: 2024-07-25
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
Jerome Powell states the labor market is in balance, indicating cooling conditions after a period of being too hot.
"quote the labor market appears to be fully Back in Balance"
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Business Insider predicts an upcoming unemployment crisis.
"we are on the brink of an unemployment Fiasco"
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The current job market is characterized by equal desperation from both employers and employees.
"job market balance means that employers and employees are equally desperate for each other"
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The economy and job market began to shift in 2023 due to rising interest rates and the end of 'free money'.
"then things changed in 2023 remember 2022 was when interest rates started to go up and that was when the free money started to go away and companies started to take notice of that and that was when in 2023 the economy and the job market started to change"
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Increased layoffs, business cost-cutting, and a rise in bankruptcies are occurring.
"that's where we started to see more layoffs we started to see businesses cut out the fat and we've also been seeing a growth in bankruptcies around the country"
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The job market is undergoing a correction after an over-boom during the pandemic caused by money printing.
"and now we're starting to see the job market correct because well it really over boomed during the pandemic because of the money Printing"
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The Federal Reserve, specifically Jerome Powell, is shifting focus from inflation to the job market.
"now for the first time Jerome Powell from the Federal Reserve Bank is saying we need to start paying attention to the job market because before he kept saying that the number one issue for the Federal Reserve Bank is well inflation"
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Jerome Powell indicates that with cooling inflation and rising unemployment, the job market warrants increased attention as a potential problem.
"now he's saying that inflation is cooling down it's not where he wants it to be yet but it's cooling down and because inflation's cooling down while unemployment is going up this is where he says it might be more prudent to start paying attention to the job market because well we are seeing unemployment rise and if unemployment keeps Rising well then that could be a problem"
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It is recommended to build a savings cushion of 3 to 12 months of expenses for emergency protection.
"start by building a savings cushion somewhere between 3 to 12 months worth of expenses to protect you against an emergency"
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Paying down consumer and high-interest debts is advised to reduce financial responsibilities.
"we to pay down your consumer debts especially your high interest debts like your credit card debts that we have less financial responsibilities"
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With savings and reduced debt, individuals will be better positioned to capitalize on future opportunities.
"how can I capitalize opportunities that might come your way because now that you have some savings now that you work to pay down some of these debts now the question is how can you capitalize on opportunities"
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Having available cash allows for investment opportunities when markets decline.
"if you see markets go down if you see an investment opportunity you have the cash to be able to go out and buy you have the cash to be able to go out and invest"
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Investing in financial education and understanding financial trends is beneficial.
"this pays dividends to invest in your financial education and to invest and understanding the financial Trends"
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The speaker will cover five essential points about understanding 401(k)s.
"I'm going to be going over five things they need to understand about your 401k"
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