Positive Poverty, Income & Job Openings Data

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Today the Census Bureau released data on income and poverty in American for the year 2018.

Income and Poverty in the United States: 2018

https://www.census.gov/newsroom/press-releases/2019/income-poverty.html?cid=cbsm

A quick snapshot of the data shows some of the numbers are moving in the right direction.
2018 Total Wages Economic Poverty data

2018 Real Median Income race

While we can always do better in working to make all Americans get out poverty. We have implemented Anti Poverty plans for older Americans that are doing precisely what it was designed to do. So, entitlement spending is a good thing for this country.

2018 Poverty total2018 Poverty Race

On another note, job openings hit 7,200,000 today

From the BLS: 
https://www.bls.gov/news.release/pdf/jolts.pdf

While my job growth forecast still shows me that we are beating my estimates for 2019. We have a lot more recession bears out there due to the yield inversion. I addressed their concern in my recent article about the jobs data and stressed that we need to take a more sophisticated take on the job data and yield inversion.

More on that here:  Inversion Recession Job Bears Becareful 

https://loganmohtashami.com/2019/09/06/inversion-recession-job-bears-becareful/

Job openings data is still healthy.

We have 522,000 job openings in the manufacturing sector.

From the BLS:
https://www.bls.gov/charts/job-openings-and-labor-turnover/opening-industry.htm

September 522K Manu Jobs openings

We have 373,000 job openings in construction.

From BLS: 
https://www.bls.gov/charts/job-openings-and-labor-turnover/opening-industry.htm

September Construction JOLTS 373,000

The quit % is roughly at 21st-century highs today, and we still have a big gap between openings and hires.

From BLS:
https://www.bls.gov/charts/job-openings-and-labor-turnover/hire-seps-rates.htm

QUits
From BLS:
https://www.bls.gov/charts/job-openings-and-labor-turnover/opening-hire-seps-region.htm

Job openings vs hires
I get it, I get it, you recession bears are thirsty for some of that recession blood. I mean it’s been a long time. This record economic expansion has simply made it hard for your constant bearish take on all the data.  All I ask of you is show a little discipline, your loved recession will come in someday. Then you can go all over social media screaming how right you all where and how America is terrible. Ya, Ya, Ya…

Until then, show some discipline, read a poem from Lord Byron, take a look at a Van Gogh, have a drink and relax.

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Logan Mohtashami is a financial writer and blogger covering the U.S. economy with a specialization in the housing market. Logan Mohtashami is a senior loan officer at AMC Lending Group,  which has been providing mortgage services for California residents since 1987. Logan also tracks all economic data  daily on his own facebook page https://www.facebook.com/Logan.Mohtashami