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49 postsLabor Market Recap June 2023: Despite Headline Miss, the Labor Market is Strong
The data from the June labor market shows continued strength in the labor market, with strong employment and wage growth. The headline unemployment number fell to 3.6%...
Unit Labor Costs are Literally Constructed Using Prices
One argument that the labor market is to blame for high inflation has been the significant rise in unit labor costs during the post-pandemic recovery. The most recent example comes from the ECB:
Wage Passthrough to Prices is Minimal and Abating
Throughout the pandemic recovery, high inflation has been attributed to tight labor markets and high wage growth. Fed officials have, for months, maintained that the labor market needs...
Labor Market Recap May 2023: Renormalization
The data from the May labor market shows continued renormalization of the labor market, with strong employment, continued slowing of wage growth, and reduced churn.
