Slump in Seasonal Hirings Portends a Soft Holiday Shopping Period

Seasonal hiring down as much as 40% from the recent highs posted in 2021

Highlights

• Downside misses are on the cards for this week’s big data points (CPI, PPI, retail sales) 

• Japanese equity bulls are being rewarded 

• Soft job postings are another bad omen for the holiday spending season 

• Trouble in the ad space signals a cyclical downturn