April Jobs Data — With Seven Million New Hires, Still Twelve Million Job Openings -- May 4, 2022

Stagflation: three components:

• high inflation;
• low growth;
• high unemployment

The jobs numbers today: April, 2022, private payrolls --

• rose, but rose less-than-expected
• a rose by any other name is still a rose

Despite these discrepancies, the underlying trend amid the plethora of recent labor market data has been clear: the U.S. labor market remains extremely tight, with demand for workers far outstripping supply. In March, job openings raced to a record high of more than 11.5 million, while new hires were little changed at 6.7 million. And these vacancies have persisted even after months of payroll growth coming in well above pre-pandemic trends. 

Right now, we don't have stagflation unless one wants to ignore jobs data. 

So:

• 12 million job openings
• new hires: 7 million

*****************************
April Automobiles

CAFE.

Ford: link here.

• if SUVs are on pick-up truck chassis, Ford is a truck company, not a car company
• April, 2022, sales
• truck: 97K
• SUV: 90K
• car: 10K
• EVs
• Mustang Mach E: 2K
• F-150 PowerBoost: 3.4K
• Escape: 3.7K

GM vs Toyota. Toyota outsells GM.