Steady . . . steady . . . steady as she goes

Because sick days, discounts and pet stores say we're navigating between a rock and a hard place, so keep a steady grip, and all hands and feet inside the vehicle at all times

Random Walk sees conditions worsening, which means they are getting better, which unfortunately will make them worse, but hopefully not too much worse because some things once done cannot be undone. Basically, it’s all going according to plan.

Plus, what discounts to look for this holiday season and where to find them!

Things we think

Getting what you ask for, Labor edition

Random Walk has variously observed three key shortages that help drive prices upwards: energy, people and money.

On the people front, there is some evidence that the prime-age labor force participation rate is returning to normal, which is good. However, because there is a smaller share of prime-age workers overall—as a population, we’ve gotten older—the overall LFPR is still lower than it was before (and recently dipped again).¹ As it stands, the ratio of unemployed-to-open jobs is quite low, and (as per always) when supply lags demand, prices go up:

Interestingly enough, Linkedin says the labor market is tight, but n…