The best U.S. labor market for workers in decades is starting to fray around the edges, but not fast enough for a Federal Reserve bent on vanquishing high inflation.
“Labor shortages remain widespread,” the St. Louis Federal Reserve said in the central bank’s latest Beige Book survey of the economy. Why ? It’s not because the Fed wants to hurt workers, as Chairman Jerome Powell has repeatedly stated, but because the central bank sees persistently high inflation as more damaging to the economy and the labor market in the long run compared to a relatively short period of higher unemployment.
“Weekly claims ticked up a bit, but remain historically low,” said corporate economist Robert Frick of Navy Federal Credit Union. The strong demand for labor has resulted in a record number of workers quitting lower-paying jobs for better paying ones while those who’ve stayed have asked their employers for more compensation.
I’d really like to see where these awesome jobs are that keeps getting preached about. My wife has been applying for the last 3 months at various companies and each time, keeps getting told they might show an open slot but they are currently experiencing a hiring freeze
this is good for going down inflation
Here you go POTUS your always saying the Jobs are up Here's the truth once again you are just a liar and you're selling out America in about this biological forget it because you'll meet with resistance in 2024 you'll be kicked out & in jail with your son
5% by next April ?
Lol...that's what they are reporting it is. Use your brain.