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Unemployment claims fell last week. Despite relatively high interest rates, they’re below pre-pandemic levels and near historic lows.
They’re less concerned about recruitment challenges, according to an NFIB survey and several indicators.
There has been a wave of migration to the U.S. — legal and not — since 2022. Many who entered are finding and keeping jobs.
Private employers added 140,000 jobs in February and January’s job openings didn’t budge — though they were down from mid-2023.
Bureau of Labor Statistics data shows that 2023 saw a pullback in labor cost growth. That may keep the downtrend in inflation going.
Fast food workers’ wages are up as much as 30% since 2020. That has had real costs for businesses, but real benefits for society.
Even if we’re back to statistical “norms,” remote employment, widespread freelancing and worker activism have changed the landscape.
They may find it attractive to earn money while others are playing.
The labor market is still pretty tight, even after the last year and a half of rate hikes loosened things a bit.
What that might mean for them and for the economy at large.
