Have we got a labor market problem. I do, I do. And by the way, I don't think it's a cyclical phenomenon.I think there is, or at least I think we have a productivity revolution that is pretty extraordinary and people point to is an exclusive driver of that. If you look across what companies are doing, including second quarter earnings, their quarter earnings give you a dynamic around around how you think about logistics, freight management, predictive maintenance, customer procurement. Companies are doing m ...

Have we got a labor market problem. I do, I do. And by the way, I don't think it's a cyclical phenomenon.I think there is, or at least I think we have a productivity revolution that is pretty extraordinary and people point to is an exclusive driver of that. If you look across what companies are doing, including second quarter earnings, their quarter earnings give you a dynamic around around how you think about logistics, freight management, predictive maintenance, customer procurement. Companies are doing m ...

Economic Data and Market Sentiment - The current market operates in a data-scarce environment, making it challenging to gauge fixed income and yield movements during the government shutdown [1] - Corporate data is deemed more reliable than survey data, which often reflects market sentiment rather than actual conditions [2][3] Labor Market and Productivity - Labor data is identified as the most critical information for the next five years, with expectations that productivity and technological advancements will alleviate wage pressures and inflation [7] - The economy is projected to achieve a real GDP growth of 3.8% and nominal GDP growth exceeding 5%, indicating strong corporate earnings without a proportional increase in infrastructure needs [8] Business Efficiency and Scale - Companies are focusing on improving productivity through better inventory management and logistics, which is essential for maintaining higher margins and lower infrastructure costs [9] - There is a trend towards achieving scale in operations, which allows companies to run more efficiently while also supporting employment levels [9][10]