Rents, houses, used and new vehicles, gasoline, groceries, forget it, hahahaha
Is the collapse of the formerly high-flying stocks bringing day-traders back into the labor force?
Production and nonsupervisory employees had biggest year-over-year wage gains since 1982, but they too were outrun by inflation.
The Pandemic wreaked havoc on seasonal patterns; and “seasonally adjusted” numbers misfired. We knew that since mid-2020. Today some of it was resolved.
Even Powell is now citing this mind-boggling data to justify tightening.
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.