A Vacant Metric: Why Job Openings Are So Unreliable
The Federal Reserve has given job vacancy data center stage in assessing the strength of the labor market. The theoretical and empirical issues with vacancies data show that this is a mistake.
Labor Markets
112 postsJuly FOMC Preview: The Recession Risks Are In Front Of Us, Not The Rearviewmirror
Two things are all but guaranteed for the rest of the week: 1. The Fed is going to hike 75 basis points (2.25%-2.50%) and signal...
The Physical Capacity Shortage View of Inflation
Repeated price crashes in a variety of industries led to a situation of underinvestment in productive capacity that created the conditions for the inflation we see today.
The Next Phase of the Labor Market Expansion
As of the first quarter of 2022, we have effectively recovered the jobs and wages lost to the pandemic-induced recession.
A Quick Guide To What Will Be A Messy January Employment Report
Friday's employment report is set to be messy for a number of reasons, not just because Omicron is likely to weigh somewhat heavily on nonfarm payroll...
