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A more stable, less swingy labor market, as reflected in the latest JOLTS data, is usually good news.
It means interest rate hikes are having the intended effect. Tapering consumer demand and high labor costs are weighing on earnings.
To make the CPI’s health care component more accurate, the Bureau of Labor Statistics changed how it uses health insurance data.
Average hourly earnings rose 4.1% year-over-year in October; the rate peaked near 6% in March 2022. The slowdown in wage growth is helping the Fed wrestle inflation lower.
The “I’d prefer a full-time gig, but I can’t find one” measure can give us a sense of how much slack or unmet potential there is in the labor market.
It’s the end of an era — the pandemic era — for the Bureau of Labor Statistics.
More people in the United States are working two full-time jobs than ever before, says Lauren Kaori Gurley of The Washington Post.
Productivity drops can confirm other trends like rising wages and shortages of materials.
This has many economists predicting the economic pain of the pandemic will last long after the economy “recovers.”
Low inflation is a sign that the recovery may be losing steam.
