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Labor market

Labor costs are still going up, but the rate is going down

by Henry Epp
Feb 1, 2024
Bureau of Labor Statistics data shows that 2023 saw a pullback in labor cost growth. That may keep the downtrend in inflation going.
The pace of wage growth pulled back last year, which could constrain price increases across the economy in 2024.
Joe Raedle/Getty Images
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How expensive fast food can explain rising economic equality

by Kai Ryssdal and Sarah Leeson
Jan 17, 2024
Fast food workers' wages are up as much as 30% since 2020. That has had real costs for businesses, but real benefits for society.
In the fast food sector, where many workers in the bottom 10% of the income distribution are employed, wages went up by 5.7% when adjusted for inflation between 2020 and 2022, says Eric Levitz of Vox.
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It's been 4 years since the pandemic began. Here's what the new normal looks like.

by Mitchell Hartman
Jan 4, 2024
Even if we're back to statistical "norms," remote employment, widespread freelancing and worker activism have changed the landscape.
One big change: more people working remotely or for themselves.
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As the labor market loosens, workers may be more willing to work nights and weekends

by Stephanie Hughes
Oct 20, 2023
They may find it attractive to earn money while others are playing.
"People are reconsidering their income needs and maybe could find ways to time their classes, time their childcare, to what the employers are offering," said Penn State Abington economics professor Lonnie Golden.
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Unemployment claims are at their lowest number since January

by Elizabeth Trovall
Sep 21, 2023
The labor market is still pretty tight, even after the last year and a half of rate hikes loosened things a bit.
Even without big hiring expansions, there are still more jobs out there than workers available to fill them.
Olivier Douliery/AFP via Getty Images
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Labor market weakens for young, less educated workers

by Mitchell Hartman
Sep 8, 2023
What that might mean for them and for the economy at large.
Young adults without diplomas are "canaries in the coal mine," said Bill Rodgers at the Federal Reserve Bank of St. Louis. "When the economy slows down, they tend to be the first ones to lose their jobs.”
John Moore/Getty Images
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Women's role in labor force continued to grow in August. Is the trend sustainable?

by Meghan McCarty Carino
Sep 4, 2023
The growth was largely driven by working mothers. Flexible and remote jobs help, but the expiration of child care relief funds may hurt.
The growth in the female working population has largely been driven by mothers.
Christian Ender/Getty Images
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Why labor shortages aren't going anywhere

by Mitchell Hartman
Aug 31, 2023
With the acceleration of baby boomer retirements, multiple sectors face long-term challenges finding enough workers to meet demand.
Pandemic disruptions and baby boomer retirements have created a mismatch between labor supply and demand. That has boosted worker pay, but employers might respond by investing more in automation.
Joe Raedle/Getty Images
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Job openings fell in July in a promising sign for soft landing

by Meghan McCarty Carino
Aug 29, 2023
Federal data also shows fewer people quit last month, bringing rates back in line with pre-pandemic levels.
Job openings decreased in July and were revised down for June.
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Wage growth may be slowing after period of strong gains

by Mitchell Hartman
Aug 28, 2023
Reports from companies and job search sites indicate that employers are lowering the pay they offer for newly posted jobs.
Small businesses aren’t adding jobs as quickly as they did last year, which is translating into weaker wage growth, noted economist Luke Pardue at Gusto.
Joe Raedle/Getty Images
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