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Go deeper: Looking to execute some high-profile launches in 2022, Beyond Meat poached industry veterans from Tyson Foods (TSN) for its C-suite in December. Doug Ramsey took up the role as chief operating officer after three decades of overseeing Tyson's poultry and McDonald's (MCD) businesses. Bernie Adcock was also assigned to a newly created position of chief supply chain officer following 30 years of working on operations and supply chain management at Tyson. 
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Economy
Some staggering statistics were displayed in the Labor Department's latest JOLTS report, which details information on job openings, hires, layoffs and those that quit their positions. Employers posted 10.6M openings in November - marking the six straight month the figure has topped 10M - against 6.9M unemployed people across the nation (meaning 1.5 jobs per unemployed person). In another wild data point, the number of workers voluntarily quitting their jobs surpassed 4.5M, which was even above the prior record of 4.4M reached in September.
Who holds the power? Job turnover has been largely concentrated in hospitality, food services and other low-wage industries, where strong competition for employees has given workers the leverage to seek better pay. Many are also seeking more flexible arrangements (like remote work) with many school districts temporarily returning to virtual learning, or even within their jobs, with volatile waves of coronavirus threatening to upend their industry (early retirees?). Others are fed up with having to take on multiple roles (better work-life balance), such as flight attendants, who have unexpectedly been turned into cops or conflict resolution negotiators.
Labor disruptions are likely to persist this year, but are not likely to stall economic recovery, with total hires jumping from 6.5M to 6.7M in November, the highest level since July. "Workers continued to switch jobs in light of the many opportunities the current labor market provides," said Nick Bunker, director of research at job services company Indeed. The JOLTS report comes three days before the Labor Department releases its closely watched non-farm payrolls figure for December, which is expected to show growth of 400K jobs and the unemployment rate ticking down to 4.1%.
Outlook: In recent months, employees have gone on strike at Deere (DE), Mondelez (MDLZ) and Kellogg (K), as workers find themselves with increased leverage due to a massive labor crunch. The bargaining position has even seen average hourly earnings increase 4.8% in November from the same period a year ago, though the pay bump is having trouble keeping up with inflation. The Consumer Price Index, the Fed's preferred gauge of inflation, surged 5.7% in November compared to a year ago, wiping out all of the wage gains.
Who holds the power? Job turnover has been largely concentrated in hospitality, food services and other low-wage industries, where strong competition for employees has given workers the leverage to seek better pay. Many are also seeking more flexible arrangements (like remote work) with many school districts temporarily returning to virtual learning, or even within their jobs, with volatile waves of coronavirus threatening to upend their industry (early retirees?). Others are fed up with having to take on multiple roles (better work-life balance), such as flight attendants, who have unexpectedly been turned into cops or conflict resolution negotiators.
Labor disruptions are likely to persist this year, but are not likely to stall economic recovery, with total hires jumping from 6.5M to 6.7M in November, the highest level since July. "Workers continued to switch jobs in light of the many opportunities the current labor market provides," said Nick Bunker, director of research at job services company Indeed. The JOLTS report comes three days before the Labor Department releases its closely watched non-farm payrolls figure for December, which is expected to show growth of 400K jobs and the unemployment rate ticking down to 4.1%.
Outlook: In recent months, employees have gone on strike at Deere (DE), Mondelez (MDLZ) and Kellogg (K), as workers find themselves with increased leverage due to a massive labor crunch. The bargaining position has even seen average hourly earnings increase 4.8% in November from the same period a year ago, though the pay bump is having trouble keeping up with inflation. The Consumer Price Index, the Fed's preferred gauge of inflation, surged 5.7% in November compared to a year ago, wiping out all of the wage gains.
Today's Markets
In Asia, Japan +0.1%. Hong Kong -1.6%. China -1%. India +0.6%.
In Europe, at midday, London +0.2%. Paris +0.4%. Frankfurt +0.5%.
Futures at 6:20, Dow +0.1%. S&P -0.1%. Nasdaq -0.3%. Crude -0.1% at $76.91. Gold +0.3% at $1819.30. Bitcoin flat at $46747.
Ten-year Treasury Yield -2 bps to 1.65%
In Europe, at midday, London +0.2%. Paris +0.4%. Frankfurt +0.5%.
Futures at 6:20, Dow +0.1%. S&P -0.1%. Nasdaq -0.3%. Crude -0.1% at $76.91. Gold +0.3% at $1819.30. Bitcoin flat at $46747.
Ten-year Treasury Yield -2 bps to 1.65%
Today's Economic Calendar
What else is happening...
Oil and gas stocks sizzle on OPEC deal; Brent crude tops $80.
Jack Dorsey, Elon Musk weigh in on nuclear energy debate.
Blackstone's Byron Wien is an old-school energy bull for 2022.
BlackBerry (NYSE:BB) turns out the lights on its iconic phones.
Charlie Munger boosts Alibaba (NYSE:BABA) stake with another 300K shares.
Pinterest (NYSE:PINS) slumps 9% as Guggenheim warns of further weakness.
Next-gen glasses: Chips prepped by Qualcomm (QCOM) and Microsoft (MSFT).
Macy's (NYSE:M) tweaks store hours to adjust to staffing shortages.
Walmart (NYSE:WMT) shut down 60 locations last month in COVID hotspots.
Pfizer (NYSE:PFE) to deliver additional 10M courses of COVID pill to U.S.
Jack Dorsey, Elon Musk weigh in on nuclear energy debate.
Blackstone's Byron Wien is an old-school energy bull for 2022.
BlackBerry (NYSE:BB) turns out the lights on its iconic phones.
Charlie Munger boosts Alibaba (NYSE:BABA) stake with another 300K shares.
Pinterest (NYSE:PINS) slumps 9% as Guggenheim warns of further weakness.
Next-gen glasses: Chips prepped by Qualcomm (QCOM) and Microsoft (MSFT).
Macy's (NYSE:M) tweaks store hours to adjust to staffing shortages.
Walmart (NYSE:WMT) shut down 60 locations last month in COVID hotspots.
Pfizer (NYSE:PFE) to deliver additional 10M courses of COVID pill to U.S.
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