Throughout the pandemic recovery, high inflation has been attributed to tight labor markets and high wage growth. Fed officials have, for months, maintained that the labor market needs to soften in order to bring down inflation. Commentators have pointed to high wage...
The data from the May labor market shows continued renormalization of the labor market, with strong employment, continued slowing of wage growth, and reduced churn.
Welcome to our State Space series. Here you will find how we’re thinking about the pathways and scenarios that could take us to critical economic states. We...
We are now at the point where many labor market utilization numbers—unemployment, employment, participation, full-time employment—are beyond pre-pandemic levels. We shouldn’t treat 2019 as a goal to return to; new highs are both possible and desirable.
