courtesy of Calculated Risk, here's the employment data with the 2M marker I track
November 15, 2025 at 4:47 PM
courtesy of Calculated Risk, here's the employment data with the 2M marker I track
when YoY employment drops below 2M, we see slowdowns. In this case labor market seizes up (no hiring), consumer spending constricts, growth slows... and the markets eventually respond because those data centers, and the power grid serving them, won't get built in time to justify PE multiples.
November 15, 2025 at 4:45 PM
when YoY employment drops below 2M, we see slowdowns. In this case labor market seizes up (no hiring), consumer spending constricts, growth slows... and the markets eventually respond because those data centers, and the power grid serving them, won't get built in time to justify PE multiples.