COTD: Chart Of The Day
Nice table (part of our Business Outlook product) on the unrecovered nonfarm payrolls lost to COVID.
The data illustrate that 71 percent of all unrecovered nonfarm jobs lost to COVID are in four sectors: 1) Leisure & Hospitality, the bulk in restaurants and bars; 2) Government (mainly local governments); 3) Education & Health Service, and 4) Professional & Business Services (the bulk of which with temporary help).
Why is the U.S. nonfarm payroll report relevant to the electronics industry? Because it drives U.S. monetary policy, the most important factor in the global macro environment, and current business conditions are being entirely driven by the macro.