Primary Vision Network on YouTube

August 28th, 2020


The key points from the video transcript are as follows:

- The small business optimism index fell in December, indicating concerns about business conditions and sales expectations.
- Wage growth has slowed down, leading to negative real wage growth adjusted for inflation.
- Small businesses are facing challenges in hiring due to high costs, leading to a decrease in hiring plans.
- Prices for small businesses have come down, but they are still at elevated levels compared to previous years.
- There is a disconnect between wages and prices, with some wages increasing while plans to raise compensation are decreasing.
- The CPI inflation has rolled over, but there hasn't been a significant spike in initial jobless claims.
- The University of Michigan sentiment shows a slight decrease in the percent of individuals expecting more unemployment in a year.
- Used car and truck prices have come down, but they are still elevated, causing potential issues with loans and repo rates.
- Core goods CPI is decreasing, while core services CPI is still elevated, which is significant as services make up 70% of buying.
- Owner equivalent rent saw gains in December, contributing to the overall CPI increase.
- Expectations for credit conditions among small businesses have fallen to the lowest in a decade.
- There is a large spread between wage growth for job switchers and job stayers.
- Real wages are still negative, and meaningful growth is not expected in the near term.

#smallbusiness #economy #wages #inflation #CPI #hiring #prices #optimism #creditconditions #realearnings

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