Tracking The US Labor Market Recovery
It has frequently been said that people are not filling vacancies due to enhanced unemployment benefits. A study by Yale economists in July 2020 found no evidence of extended unemployment benefits reducing employment . Still, it is troublesome that the US economy is experiencing a labour shortage problem so early into its recovery. This won’t be inflationary while jobless claims are still elevated. But once social restrictions are permanently eased, the labour market recovery could tighten quickly in line with the surge in our US leading indicator. To date the gains in the labour recovery h...
Source: zerohedge.com