It’s obvious the economy is a mess right now, slowest job growth in 15 years, a weakening dollar, sky-high tariffs, a government shutdown, and everything else falling apart. Meanwhile, the top 10% are chilling, barely noticing any of this, watching their net worths hit new records as the market keeps climbing.
We didn’t get the payroll today, but keep this chart in mind.
100% accuracy. Will it be different this time when it triggers? pic.twitter.com/d3gGAZ47fT
— Guilherme Tavares (@i3_invest) October 3, 2025
Indeed job openings fell rapidly in September, no NFP for shutdown lmao pic.twitter.com/sCuy5XmSoW
— Alessio (@AlessioTMAD) October 3, 2025
The construction industry is deteriorating rapidly:
US job openings in construction dropped -115,000 in August, to 188,000, the lowest since May 2017.
This marks the second-largest monthly decline in data going back to January 2001.
Since December 2023, the number of available… pic.twitter.com/WcQLhnnBxn
— The Kobeissi Letter (@KobeissiLetter) October 2, 2025
The hiring rate is now lower than the average of the official 19 months during the Great Recession, and the standard for what constitutes “employed” is already ridiculously low. The BLS just requires having been paid for 1 hour as an employee or as a self-employed person during its reference week and that threshold has become much easier to technically meet with gig work and freelancing.
There are many more ways to technically be employed now compared to then, with gig work and freelancing, which tend to be dead ends anyway.
Job quality is distinctly worse. The highest job quality level post-Great Recession is still lower than the lowest level pre-Great Recession, indicating fewer good and gainful jobs available in the first place. Nearly 60% (slide 2) of jobs pay less than $25 per hour, and these data were collected when the PPP money was flowing. The number of people not in the labor force who want a job is now (and has been since June) higher than any point during the Great Recession.
h/t Welcome2B_Here