A bit late this morning … as I was just about done typing my note … and computer shut off. I didn’t save my work (a rookie mistake) and had to restart. Ugh! You would think I would know better.
Markets are relatively flat at the moment but there is some interesting news on the employment front.
According to Daily Shot, the number of job openings not only beat economists’ forecasts, but is at an all-time high. But … as the saying goes (almost) … every “silver lining has a cloud” … and with the “hires-to-opening” ratio declining … the implication is that companies … while desperately seeking workers … are having a difficult time getting ones that are qualified.
You might simply shout, “pay people more” … and think that would solve the issue ….. but that is not always the case. The NFIB Small Business Economic Trends report of August 2017 points out that “… employee compensation can rise in real terms over time only if employees produce more stuff per hour …” and, with productivity somewhat muted … so are anticipated and very-much-hoped-for wage increases.
Meanwhile, the situation in Florida … while improving … remains quite bad for some … but I can’t get over the amount of people in the Keys being interviewed who are saying things like, “maybe I should have listened” … when it comes to being told to head to safety.
That being said, it might only be a matter of time before Florida decides to put a good portion of utilities below ground … regardless of the up-front cost.
Power to the People!
Let’s hope it happens soon.
Have a great day.
Joseph G. Witthohn, CFA
Emerald Asset Management
610 Freedom Business Center Drive
King of Prussia, PA 19406
(610) 337-9230 ext. 6
… as of 11:31 AM today …
Quick Look at the News
Psst ... want a job? There are plenty of them out there as job openings have hit a record high. But with the increase in the need for workers, have wages gone up? Not yet (CNN)http://money.cnn.com/2017/09/12/news/economy/job-openings-record-high/index.html?iid=surge-story-summary
... but one group who might want to get their resumes dusted off are bankers ... as an ex-CEO of a pretty big bank feels 30% of positions are at risk due to automation (Bloomberg)https://www.bloomberg.com/news/articles/2017-09-13/ex-citi-ceo-pandit-says-30-of-bank-jobs-at-risk-from-technology
With the recent hacking over at Equifax, there is one question going through people's minds ... just why do we still use social security numbers for identification? (CNN)http://money.cnn.com/2017/09/13/technology/social-security-number-identification/index.html
... but old habits die hard ... and there will be much discussion about the benefits (even with high cost) of putting utilities underground ... especially in Florida now that we've seen what storms can do (Slate)http://www.slate.com/blogs/the_eye/2013/10/30/utility_poles_should_we_send_them_underground.html
Want to be healthy? Eat more fat? What? Am I crazy? Well, some studies conclude that carbs are the thing that's bad for you ... not fat ... so order that steak without guilt! (NYDailyNews)http://www.nydailynews.com/life-style/health/live-longer-eat-fat-carbs-article-1.3490552
... though you might not be using cash to pay for your steak too much longer. If the U.S. follows Sweden's lead (and they probably will) cash will have less and less importance (BBC)http://www.bbc.com/news/business-41095004
And this is an idea whose time has come ... sleep pods in airports. If you've ever spent a night stuck at an airport, these are a godsend ... personal pods for stranded passengers ... and yes, they only fit one (Bloomberg)https://www.bloomberg.com/news/articles/2017-09-13/airport-sleep-pods-are-here-for-stranded-passengers