The Greatest Economic Indicator of All
Hap tip to our friend Marcus for passing this gem along from The Reformed Broker. There’s really nothing else to say.
By now you’re probably soaked with Moet as a result of the post-July Non Farm Payrolls celebrations happening worldwide. In case you missed it, the US economy added 163,000 jobs in July after accounting for seasonal adjustments related to whether or not a handful of auto plants were idled somewhere in Arkansas. Yes, it’s all very scientific, I won’t bore with you the details.
Anyway, now that these numbers have hit and the possibility of you retiring is back on the table, I thought I’d hit you with an even better piece of economic news. The greatest Jobs Indicator of All has just gone extremely positive…
World of Warcraft (WoW) subscriptions are at their lowest level since 2007.
Activision Blizzard has disclosed the video game had just over nine million paying users at the end of June. That is down from a high of more than 12 million two years ago.
That’s right, the role-players are emerging from mom’s basement at a record pace. This is the lowest rate of World of Warcraft membership since the last economic peak, 2007. The malcontents and misanthropes who’ve spent the past five years hiding out in a magical land where dragons can be slayed and female warriors will let you touch their breasts are coming out of the darkness.
They are laying down their virtual battle axes, rejoining the productive economy and the labor force. Some of them may even move out, leading to even more economic stimulus in the form of household formation. Some of them might even get married and have children! “Some” I said!
People retreat into these fantasy worlds in dire economic times, but they end up coming back to the real world once there is proof that there is something here worth doing.
This is tremendous news indeed. God help whomever ends up employing these people.