08.05.24 CLARKONOMICS: The Job Market / Look Out For Incorrect Pricing

The Clark Howard Podcast

Clark Howard

Business, Investing, Entrepreneurship

4.6 • 5.2K Ratings

🗓️ 5 August 2024

⏱️ 32 minutes

🔗️ Recording | iTunes | RSS

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Summary

Today, Clarkonomics with an overview of the current job market and how to be prepared. Also - Incorrect pricing has been plaguing consumers alongside inflation and may soon be remedied in some places by technology. Meanwhile, why you need to keep your eye on the price! Job Market Update: Segment 1 Ask Clark: Segment 2 Incorrect Pricing: Segment 3 Ask Clark: Segment 4 Mentioned on the show: Axios: Labor scarcity is the new normal Companies are facing a skills-gap crisis that college alone can’t fix College credit for working your job? Walmart and McDonald’s are trying it Amazon - 9 skills training programs helping hourly employees grow their careers Amazon - Our Upskilling 2025 programs NYT - U.S. Job Growth Extends Streak, but Signs of Concern Emerge Why more layoffs could be coming in the second half of 2024 Americans are suddenly finding it harder to land a job — and keep it America's startup boom is still going strong. Here's what it means for the economy Demand for better cybersecurity fuels a booming job market What Is a Fiduciary Financial Advisor and Do I Need One? Guide to Brokerage and Investment Advisory Services at Fidelity Investments A supermarket trip may soon look different, thanks to electronic shelf labels How To Plan a Trip: Clark's Best Travel Tips To Save Money About Clark Howard Clark.com resources Episode transcripts Community.Clark.com Clark.com daily money newsletter Consumer Action Center Free Helpline: 636-492-5275 Learn more about your ad choices: megaphone.fm/adchoices Public.com+Public Investing: All investing involves risk. Brokerage services for US listed securities, options and bonds in a self-directed brokerage account are offered by Public Investing, member FINRA & SIPC. Not investment advice. Public Investing offers a High-Yield Cash Account where funds from this account are automatically deposited into partner banks where they earn interest and are eligible for FDIC insurance; Public Investing is not a bank.Cryptocurrency trading services are offered by Bakkt Crypto Solutions, LLC (NMLS ID 1828849), which is licensed to engage in virtual currency business activity by the NYSDFS. Cryptocurrency is highly speculative, involves a high degree of risk, and has the potential for loss of the entire amount of an investment. Cryptocurrency holdings are not protected by the FDIC or SIPC. . See public.com/#disclosures-main for more information. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	It's great to have here on the Clark Howard Show. You know, our mission is to serve you with advice and information that empowers you to make better financial decisions in your life.
0:15.0	I'm going to start today with the Clarkinomics segment about the job market
0:21.0	and what you can do if the predictions of upcoming layoffs come true.
0:27.0	Also, I recently had an incredible experience when trying to correct an error on my grocery store receipt.
0:36.4	I'm going to tell you about it.
0:38.0	Man, it's funny being out and about and what goes on. So this is not funny. There's a pattern that we can
0:48.3	see. The first something feels anecdotal and then you realize, oh, it's the inklings of a pattern.
0:54.5	We're hearing from more of you
0:57.5	that your job's been eliminated, you're being laid off,
1:01.0	you're worried there are cutbacks, and we are moving into a lower gear.
1:07.2	We have been in the United States, the world's most dynamic economy. With that, we became an overheated economy. We had too much
1:18.9	federal spending, too much deficit spending. We had the supply chain disruptions
1:25.0	and we got into the ugly inflationary cycle.
1:29.0	Federal Reserve pushed interest rates way up to break the cycle of inflation and that inevitably
1:38.0	leads to a slowdown in the labor market because what has to happen, this is why economics is the dismal science, is you have to take away the wage bargaining power of workers to break the inflationary cycle.
1:56.6	So if you think what's been happening over the last few years,
2:00.0	people's payives been going up, but the cost of living was going up more, and we were on a treadmill
2:06.7	that wasn't actually getting us anywhere, and it was feeding on itself. So jobs were as plentiful as I can remember
2:15.8	in my lifetime except during the Vietnam War.
2:20.8	And that was obviously a war-fed economy.
2:24.0	So the Federal Reserve, by pushing interest rates higher and higher and keeping them there,
2:30.0	has done what it intended to do but always what happens is people get hurt in that
	...

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