With all this bearish talk, it seems like everyone's skipped the reading of economic data released today. For those unaware, I'm talking about employment related statistics. Despite these heavy hikes, they've had essentially no effect on employment, which goes against the recent narrative that we're heading into a recession, or at least a recession similar in effect to those we've felt in the past. Sure, we may end up with a technical recession, due to the heavy importing from last quarter. Continuing Jobless Claims was also similar, and Manufacturing prices have fallen to levels they were pre Russia Ukraine. Building is down quite a lot, and I believe that's what caused the fall we seen, but realistically this should've been expected with increasing interest rates, and I don't see it holding with such high demand for housing. Where I live, it's almost impossible to find a place to even rent, which implies that there lies a rent market that has yet to been taken advantage of.
Right now, I don't see any strong signs that could even suggest we're looking at a recession on the horizon. I guess only time will tell, but employment numbers definitely suggest that to be the case.
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