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Click to enlarge.
From 1993 through 1999, one could estimate with great precision how much money was being spent on office construction simply by knowing how the stock market was doing.
From 2000 through 2007, one could still make a reasonably accurate estimate.
From 2008 to present, this device could have done better.
Click to enlarge.
OUTLOOK NOT SO GOOD!
Source Data:
St. Louis Fed: S&P 500 vs. Office Construction Spending
St. Louis Fed: Employment Level - Sales and Office Occupations
4 comments:
I stumbled upon the video looking for something suitable. I actually really like the beat (starting at 1:00).
So, what does this mean? that sales are no longer related to share price? Is that because of income from abroad...?
Anonymous,
First they (automation) came for the farming jobs. Since I was not a farm worker I said nothing.
Then they (automation, outsourcing) came for the manufacturing jobs. Since I was not an assembly line worker I said nothing.
Then they (automation, outsourcing) came for the office jobs. Since I was not an office worker I said nothing.
And so on, and so on.
We better start thinking up new jobs faster than "they" take them! Some would argue that we're currently doing okay. I would wait to see how much damage the next recession does though, whenever that might be. Only then will we know how much of this sub-par expansionary job growth was actually sustainable.
I am not optimistic. Sigh.
Just opinions!
Put another way...
How many office workers per dollar of goods sold does a company like Amazon.com need?
It's an automated system. My computer (the buyer) talks to their computer (the seller). It's not like I ever speak to a salesperson directly.
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