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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 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 Analysis BLS JOLTS press release July 30, 2024
https://www.bls.gov/news.release/jolts.nr0.htm CNBC McDonald’s earnings, revenue miss estimates as consumer pullback worsens
https://www.cnbc.com/2024/07/29/mcdonalds-mcd-q2-2024-earnings.html CNBC McDonald’s executives admit diners think prices are too high, say they’re working to create value
https://www.cnbc.com/2024/07/29/mcdonalds-earnings-executives-say-prices-are-too-high.html Philly Fed Large Bank Credit Card and
Mortgage Data
https://www.philadelphiafed.org/surveys-and-data/large-bank-credit-card-and-mortgage-data
https://www.eurodollar.university
Twitter: https://twitter.com/JeffSnider_EDU |
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