Another testimony of the massive changes in society and the economy. But losing some of the enormous steam.
The Fed finally sees it too.
People got thrown out of a rut and thought about how to move forward differently. We can see that increasingly in the numbers.
Workers come out ahead, a phenomenon not seen in many decades, as desperate employers poach workers from each other.
Job arbitrage in a labor market where workers have more power than before.
Number of Workers Jumps by Massive 1.14 Million in Nov as People Strike Out on Their Own. But Employers Can’t Fill Vacancies.
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.