Labor market will set inflation on a 'rollercoaster': BlackRock

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The labor market will set inflation on a 'rollercoaster' that will weigh on stocks and the economy, BlackRock says

The labor market is bound to set inflation on a"rollercoaster," which will weigh on stocks and the economy, according to BlackRock.

According to the firm, there are around 4 million fewer workers today in the US than there would have been if the job market kept growing at its pre-pandemic pace. That's kept the competition for workers among businesses strong, which has fueled wage growth.

 

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