An atypical First Friday episode since there isn't a jobs report available. Nonetheless, October saw U.S. companies announce more job cuts within a single month than at any other time in the past 20 years, making it the peak month for job reductions. In contrast, private payrolls, as reported by ADP, increased by 42,000 in October, leading to some conflicting data—some aspects appear pessimistic while others seem optimistic. We will delve deeper into this in today's episode.
Timestamps:
(Note: Timestamps may differ across individual devices due to dynamic advertising segments. The timestamps provided are approximate and could vary by several minutes owing to changing ad lengths.)
(00:00) Conflicting Job Market Data
(03:40) Youth Unemployment and AI’s Effect
(10:16) Fed Rate Cuts and Housing Market
(20:23) New Job Postings at Lowest in 4 Years
(20:54) Consumer Sentiment
(22:04) Increase in Social Security Payments in 2026
(23:33) Rising Car Expenses and Repossessions
(24:46) Positive News for Prescription Drug Prices
(31:50) Effects of Government Shutdown
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This First Friday episode is unique as we do not have a jobs report.