Addicted To Gov II! Job Openings Decreased To 8.7 Million In October As Fed Shrinks Balance Sheet – Confounded Interest – Anthony B. Sanders

Fed money printing is simply irresistable. Particularly when the US economy seems so addicted to Fed money printing.

The number of job openings decreased to 8.7 million on the last business day of October, the U.S. Bureau of Labor Statistics reported today. Over the month, the number of hires and total separations changed little at 5.9 million and 5.6 million, respectively. Within separations, quits (3.6 million) and layoffs and discharges (1.6 million) changed little. This release includes estimates of the number and rate of job openings, hires, and separations for the total nonfarm sector, by industry, and by establishment size class.

But if we look at job openings plotted against The Fed’s balance sheet, we see an ugly relationship. Job openings rose under Biden in 2021 and 2022 … as The Fed continued buying assets. Then, like magic, The Fed started shrinking their balance sheet and US job openings began to shrink.

Money printing is simply irresistable! Its like Brawndo from the film “Idiocracy.”