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EPISODE · Jul 31, 2024 · 16 MIN

Jobs Have Completely Stopped Hiring

from Eurodollar University · host Jeff Snider

Hiring in the US absolutely plunged in June, so much you really have to see it to believe it. At the same time, global fast food giant McDonalds reported lower same store sales for the first time since 2020. The reason why people can no longer afford to eat as much under the golden arches isn't necessarily price changes, what's changed recently is the alarming retreat in employment. Eurodollar University's Money & Macro AnalysisBLS JOLTS press release July 30, 2024https://www.bls.gov/news.release/jolts.nr0.htmCNBC McDonald’s earnings, revenue miss estimates as consumer pullback worsenshttps://www.cnbc.com/2024/07/29/mcdonalds-mcd-q2-2024-earnings.htmlCNBC McDonald’s executives admit diners think prices are too high, say they’re working to create valuehttps://www.cnbc.com/2024/07/29/mcdonalds-earnings-executives-say-prices-are-too-high.htmlPhilly Fed Large Bank Credit Card and 
Mortgage Datahttps://www.philadelphiafed.org/surveys-and-data/large-bank-credit-card-and-mortgage-datahttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

What this episode covers

Hiring in the US absolutely plunged in June, so much you really have to see it to believe it. At the same time, global fast food giant McDonalds reported lower same store sales for the first time since 2020. The reason why people can no longer afford to eat as much under the golden arches isn't necessarily price changes, what's changed recently is the alarming retreat in employment. Eurodollar University's Money & Macro AnalysisBLS JOLTS press release July 30, 2024https://www.bls.gov/news.release/jolts.nr0.htmCNBC McDonald’s earnings, revenue miss estimates as consumer pullback worsenshttps://www.cnbc.com/2024/07/29/mcdonalds-mcd-q2-2024-earnings.htmlCNBC McDonald’s executives admit diners think prices are too high, say they’re working to create valuehttps://www.cnbc.com/2024/07/29/mcdonalds-earnings-executives-say-prices-are-too-high.htmlPhilly Fed Large Bank Credit Card and 
Mortgage Datahttps://www.philadelphiafed.org/surveys-and-data/large-bank-credit-card-and-mortgage-datahttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

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This episode is 16 minutes long.

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This episode was published on July 31, 2024.

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Hiring in the US absolutely plunged in June, so much you really have to see it to believe it. At the same time, global fast food giant McDonalds reported lower same store sales for the first time since 2020. The reason why people can no longer...

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