Thanks Peter for this interesting analysis of the JOLTS reports (current & past). No doubt the stagnation of wage growth is very troubling & magnifies any increase in inflation (no matter how small) & the past affect of previous high interest rates on current consumer goods pricing, which have risen over the post COVID period.
Hopefully this unfavorable trend will subside sometime in the foreseeable future. It is currently unclear how or why that will happen, but we shall see.
My guess is that is what Trump might be trying to do with his tariff program. I’m not so sure that is the right tool & think his deregulation efforts might be more productive.
As I noted in my previous comment, we shall see & hope there is some success in the foreseeable future.
I am convinced that what I call the "jobs recession" is by far the most important economic issue this country faces.
If there is strong demand for labor, wages will rise. They must.
If people are employed in high demand jobs, they will prosper. They must.
In such an environment, the need for a social safety diminishes. It must.
We do not need Keynesian "stimulus" packages that seek to replace market demand with government spending. However, we do need more jobs and more people with jobs.
Thanks Peter for this interesting analysis of the JOLTS reports (current & past). No doubt the stagnation of wage growth is very troubling & magnifies any increase in inflation (no matter how small) & the past affect of previous high interest rates on current consumer goods pricing, which have risen over the post COVID period.
Hopefully this unfavorable trend will subside sometime in the foreseeable future. It is currently unclear how or why that will happen, but we shall see.
Thanks again & take care.
My guess is that is what Trump might be trying to do with his tariff program. I’m not so sure that is the right tool & think his deregulation efforts might be more productive.
As I noted in my previous comment, we shall see & hope there is some success in the foreseeable future.
Thanks.
I am convinced that what I call the "jobs recession" is by far the most important economic issue this country faces.
If there is strong demand for labor, wages will rise. They must.
If people are employed in high demand jobs, they will prosper. They must.
In such an environment, the need for a social safety diminishes. It must.
We do not need Keynesian "stimulus" packages that seek to replace market demand with government spending. However, we do need more jobs and more people with jobs.
That this country needs desperately.