It is, of course, just one month’s-worth of data, subject to revision, and as a result perhaps unlikelythat they should raise rates by anything less than three-quarters of a percentage point when they meet later this month. But maybe, with the pandemic easing, more people will be entering the workforce, making it easier for employers to find workers, alleviating downward pressure on the unemployment rate and keeping wage growth from jumping too much.
But with Covid test-positivity rates declining in recent weeks, it looks as if the surge in cases driven by Omicron subvariants has crested. The comingcould, at least for a time, reduce Covid cases while making some people less worried about contracting the disease. That could pave the way for higher labor-force participation.
It would be a welcome development for the Fed because businesses’ demand for workers is likely to remain high for some time yet. Earlier this week, the Labor Department reported that there were a seasonally-adjustedat the end of July, matching a record two jobs for every person counted as unemployed set in March.
Even if businesses have gotten more productive, they probably need more workers just to keep up. There are also many sectors that have fewer workers now than they did before the pandemic, including restaurants, state and local education, barber shops and hair salons, child care and hotels. Future job growth in those areas seems natural.
jdlahart Bwahahahah. Bwahahahaha. Breathe. Breathe. More laughter. “Perfect”
jdlahart Are u people serious Wake up n get rid of woke wtf
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