Millions of people are still watching this spectacle from the sidelines.
Record GDP, record consumer spending, record private investment, but the number of workers accomplishing these feats is down by 4.7 million.
Margin pressures from surging labor costs for the first time in two decades.
Wages are heating up. And it’s also now starting to show up in the data: The wage component in the fuel for persistent big inflation.
One more reason “transitory” and “temporary” have become a silly joke. Even the Fed is backing off promoting it.
Big drop in government jobs (education) blamed on seasonal adjustments gone awry.
Job openings spiked to record 11.7 million, while 12.1 million people still claimed unemployment benefits.
Data about the “Labor Shortage” pile up.
Formerly temporary, now persistent work-from-home turns into slow-motion nightmare for office landlords.
Business owners and hiring managers knew this in their gut for months.