The stock market is trading near record highs. But beneath the surface, the U.S. job market is telling a very different story.
Job openings have been declining even as stock prices have climbed — a divergence that also appeared before major market declines in 2008 and 2020.
What might this growing disconnect mean for investors?
Watch the video to see what Murray Gunn, editor of Elliott Wave International’s Global Rates & Money Flows, has uncovered.
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The relationship between the stock market and the labor market is just one of the many developments Murray Gunn monitors through Global Rates & Money Flows.
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Murray Gunn Head of Global Research
Murray Gunn, MSTA, CFTe, CEWA, is Head of Global Research at Elliott Wave International. He worked as a fund manager in global bonds, currencies and stocks, including long posts at Standard Life Investments and the Abu Dhabi Investment Authority. Prior to joining EWI, he was Head of Technical Analysis at HSBC Bank. Murray is the author of the 2009 book Trading Regime Analysis and a contributor to Socionomic Studies of Society and Culture (Socionomics Institute Press, 2017). Murray is at the helm of EWI’s Global Rates & Money Flows and The European Short Term Update, while also providing commentary for Global Market Perspective.
