On the morning of June 5, the Dow Jones crossed above 27,000, when it was announced that the US economy added 2.5 million jobs in May. There were some "really smart people" predicting a loss of 8 million jobs in May.
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About six weeks ago, we noted that during the worst of the pandemic, the Dow Jones traded below 20,000, but only for a week. At that time, we suggested that it was time to “buy” in the labor market, and that it was better to be a little early than a little late.
About four weeks ago, we noted that this second chance would end soon.
I’m not a market analyst, but I’d be willing to bet the market goes down again, followed by more ups and downs. That is what markets do. The entire country has a lot of work to do to repair what the past few months have done to the economy.
However, the labor market is only going to heat up for the foreseeable future. The last of the baby boom generation doesn’t turn 65 until 2030, there is a lot of pent-up demand and inventory draw-downs that must be replenished, and we are expecting a lot of demand from reshoring efforts.
The window to add some top-notch talent in the plastics manufacturing space officially started to close on June 5, and it is closing fast.
About the author
Paul Sturgeon is CEO of KLA Industries, a national search firm specializing in plastics, packaging, and polymer technology. If you have a topic you would like to see discussed, a company that is growing, or other ideas for this blog, e-mail Sturgeon at [email protected].