73.0: LIVE! Reaction Answering the WSJ’s Greg Ip
———Ep 73.0 Intro———
According to a Wall Street Journal opinion column, solid wage growth and unfilled openings point to much less labor market slack than headline unemployment data. Might the US employment situation be much better than widely believed? Might the economy take off? Jeff Snider reacts live.
———Ep 73.0 Topics———
00:48 Some data suggests the US labor market is starting to look – well – tight.
01:58 Expect to hear about labor shortages and bottlenecks for the rest of the year.
02:36 In a bad labor market workers would accept much lower pay. That hasn’t happened.
04:24 Another sign of a tightening labor market: employers having trouble staffing up.
06:49 Why do some numbers suggest labor slack while other numbers suggest it is tight?
09:10 Greg Ip suggests “Only a small share of those labor market dropouts want a job.”
14:42 The jobs market is not as bad as we think, therefore there is a risk of inflation.
———Ep 73.0 References———