Monday Morning Coffee July 10, 2017

The Bureau of Labor Statistics released the JOLTS (job openings and labor turnover rates) report. Fed Chair Yellen has described this data as being very useful in evaluating current labor market conditions. 

It revealed that job openings rose to a record high level and that the quits rate held steady at an elevated level of 2.1%.

Both readings are viewed as signs of a strong labor market. A high quits rate is viewed as a signal of strength because workers are more likely to leave their jobs willingly when they are confident about their ability to get another one.

This is of course good new for real estate... home owners and purchasers can both feel confident because the labor market is closely tied to the housing market.

Management is doing things right; leadership is doing the right things. ~ Peter Drucker

John Maxwell is one of the most prolific authors regarding the subject of leadership. He says there are 3 characteristics necessary to be a good leader:

1. Consensus building: Abraham Lincoln was such a phenomenal leader because he understood the importance of consensus building and bringing together the people around him to help make up for his weaknesses.

“The fallacy of leadership is thinking that if you can lead in one area you can lead in all areas, and you know all the answers,” Maxwell says. “This is simply not true.

The new generation of leaders needs to be consensus builders by walking slowly through the crowd and valuing the opinions of others before making any decision.”
“The demand for leadership always increases with difficult times."
2. Humility: “All great leaders are humble,” Maxwell says. “Instead of talking about their own accomplishments, leaders are looking to give the team the credit.”
3. Risk taking: Leaders are not afraid to step out and say this is what needs to be done. Another of Maxwell’s favorite leaders was Winston Churchill, who stood alone against Parliament, maintaining Nazism’sthreat to Europe when many people considered it a mere nuisance.

“Churchill had the courage to go against the grain, against the trend, against the current,” Maxwell says. “He had the courage to do what he felt was right even in the midst of severe opposition.”