Core Viewpoint - The article discusses a family's desire for their son to remain in a specific location to establish a family, indicating a potential trend in family-oriented living preferences and stability in certain communities [1] Group 1 - The son expresses a wish to stay in the area, highlighting a personal connection to the community [1] - The desire to start a family suggests a focus on long-term residency and investment in local infrastructure and services [1]

Group 1 - The U.S. labor market shows signs of cooling, with job openings unexpectedly declining for the second consecutive month in November to 7.146 million, below the October level and significantly under the market expectation of 7.61 million, marking the lowest level since September 2024 [1] - The total number of job openings remained around 7.1 million, with hiring and total separations both stable at 5.1 million in November. The voluntary quit rate was approximately 3.2 million, while layoffs and discharges numbered around 1.7 million, indicating limited overall fluctuations [1][2] - The JOLTS report, released monthly by the Bureau of Labor Statistics (BLS), focuses on labor demand, contrasting with the unemployment rate that reflects labor supply. A decrease in job openings is interpreted as a sign of weakening demand [1] Group 2 - From a long-term perspective, JOLTS data shows a downward trend in job openings, hiring, and voluntary quits since mid-2022, with job openings experiencing the most significant decline. Since September 2024, hiring and quit numbers have stabilized, but job openings continue to trend downward [2] - The ratio of job openings to unemployed individuals is a critical indicator of labor market tightness. In November, there were approximately 7.831 million unemployed individuals and 7.146 million job openings, resulting in a ratio of 0.91 job openings per unemployed person, significantly lower than pre-pandemic levels and the lowest since March 2021 [2] - The job openings rate in November fell to 4.5%, down from 4.7% in October, and decreased by approximately 885,000 positions compared to the same month last year. Notably, sectors such as accommodation and food services, transportation and warehousing, utilities, and wholesale trade saw significant reductions in job openings, while construction added about 90,000 positions [2] Group 3 - In November, the hiring rate was 3.2%, slightly lower than in October, while the voluntary quit rate increased to 2.0%, with notable increases in quits within the accommodation and food services sector. The layoff and discharge rate was 1.1%, slightly below October, with declines in layoffs in healthcare, accommodation, food services, and local government sectors [3] - Analyzing the business cycle, the six-month moving average indicates that job openings remain higher than hiring numbers but have returned to pre-pandemic levels. Both hiring and quitting rates are significantly below historical highs, while layoffs and discharges have been slowly rising but remain slightly below pre-pandemic levels [3] - Analysts suggest that the quit rate typically inversely correlates with the layoff rate, reflecting worker confidence and the economic cycle stage. However, it is important to note that JOLTS data has a limited historical span and monthly data can be volatile, warranting caution in overinterpretation based on single-month data [3]

Core Viewpoint - The domestic economy is currently in a deflationary cycle, despite expectations of rising prices due to excessive money supply. [1][3] Group 1: Economic Indicators - As of November 2025, the broad money supply (M2) reached 336.99 trillion yuan, with a year-on-year growth of 8.0%, which is twice the GDP size. [1] - In the first three quarters of 2025, the national consumer price index (CPI) experienced a year-on-year decrease of 0.1%. [1] Group 2: Causes of Deflation - The deflationary cycle is attributed to two main factors: insufficient confidence in future investments and consumption, leading to excessive money supply circulating within the financial system without reaching the goods and asset markets, resulting in price declines. [3] - Additionally, the slowdown or decline in income growth for most residents has led to reduced consumer demand, causing businesses to lower prices to stimulate sales. [3] Group 3: Recommendations for Individuals - Individuals are advised against making hasty investments due to the unfavorable investment environment, which increases the likelihood of losses, especially for those lacking investment knowledge and experience. [5][7] - It is recommended not to resign from stable jobs, as the current economic conditions and rising unemployment make it difficult to find satisfactory employment afterward. [8][10] - Caution is advised for those considering entrepreneurship, as the probability of success is low due to factors such as declining consumer demand, lack of experience, rising operational costs, and competition from e-commerce. [12]