“The labor market is cooling but it is far from cold,” Jennifer Lee, an economist at BMO Capital Markets, said in an email.. Since the pandemic, people who have left one job for a new one have been getting historically large wage increases.
The Fed would like to slow — though not eliminate — wage gains, so it is hoping that its rate hikes will bring down the number of jobs that companies advertise. The Fed has hiked its benchmark interest rate six times this year to a range of 3.75% to 4%, the highest in about 15 years, in a bid to quell rampant inflation. Prices, near the highest in four decades. The Fed typically seeks to slow price increases by weakening the economy and pushing up unemployment, which reduces spending and often brings down inflation.
Job openings are still high because not enough people have useful skills.
Not at Twitter lol
I’m seeing this picture as nobody wants to have an elliptical.
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