Wednesday' morning's GDP number has traders on alert.
After posting a contraction of 2.9 percent in Q1, today's advanced estimate pegged Q2 GDP at four percent. If the economy is that healthy, jobs should presumably follow suit. Looking at Help Wanted Online, however, the drop in the ratio of New Ads to Total Online Help Wanted Ads is back to its elevated 2007 level.
"Labor demand continues to be at historically high levels with employer demand running at about 5 million ads each month," said Dr. Gad Levanon, Director of Macroeconomics and Labor Markets at The Conference Board.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.