- Five to Thrive
- Posts
- #161 – US Job Market & AI
Good morning everyone,
Hope you’re having a great week!
Here are 5 things I found interesting over the past few days.
Let’s jump in.
read online on my website
read time 3 minutes
#161 – The Rundown:
Quote: A guest that does not visit the lazy.
Podcast: 15 minutes with Neil Perry.
Video: Is there an AI bubble?
Observation: Some interesting trends from the US job market.
X: Pressure vs Focus.
Quote:
A Guest That Does Not Visit The Lazy
“Inspiration is a guest that does not willingly visit the lazy.”
{h/t James Clear}
Podcast:
15 Minutes with The Boss: Neil Perry
Neil Perry is easily one of the most influential chefs in Australia with some of the country’s most renowned restaurants including Margaret in Double Bay, Rockpool Bar & Grill, Spice Temple, and Gran Torino.
It was really interesting to hear about how his morning routine, how he structures his day, and how he approaches tough decisions.
The business side of hospitality has always fascinated me and this pod served as a bit of a window into that world.
Listen on Spotify, Apple Podcasts or YouTube.
[Duration: 18 minutes]
P.S. I made a Spotify playlist with every podcast I’ve ever recommended. Hope they bring you as much value as they’ve brought me.
Video:
Is There An AI Bubble?
Seth Klarman is an American billionaire investor, hedge fund manager, and CEO of The Baupost Group.
My 3 key takeaways from his 24-minute interview live at Global Alts New York:
1) Even if AI is completely real, more uncertainty about how it plays out is an argument to pay less for the future and yet the multiples keep climbing.
2) Klarman is spending most of his time on the "AI agnostic" names which he defines as the companies who are almost entirely unaffected by AI. His favourite opportunity at the moment: commercial real estate (highly idiosyncratic).
3) There is still so much we don’t know about AI and how the actual market dynamics will play out (e.g. whether there will be one winner or multiple winners).
Well worth a listen.
{h/t Trader Ferg}
Observation:
Some Interesting Trends from the US Job Market
There’s been a dramatic turnaround in the US labour market with 92k jobs per month added over the last 6 months. That’s the strongest 6-month growth rate since February 2025 and a 180-degree reversal from where things looked at the start of the year.
Where are the new jobs coming from?
60% of the job gains in the US over the last 3 months came from just two sectors:
1) Health Care & Social Assistance: +198k jobs
2) Leisure & Hospitality: +144k jobs
And of the 369,000 jobs the US Labor Department says were created since last year, 348,000 of them went to women with the remaining 21,000 going to men.
That means 94% of the net employment growth in the US was dominated by one gender.
{h/t Charlie Bilello & Chris Williamson}
X:
Pressure vs Focus
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See you in the next one,
Dimi