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✕ From February 2020 to June 2021, average hourly earnings for leisure and hospitality jobs increased 7.9%. For retail jobs, the increase was 8.6%. Photo: Getty Images CAPITAL IDEAS: What is causing the labor shortage? It’s not only about the money. A recent report found that 64% of employees would turn down a $30,000 annual raise to keep working from home indefinitely. There has been much conjecture, but little evidence, as to why the U.S. is experiencing a labor shortage. Some say it’s because people are lazy and are exploiting the system. Some say it’s because greedy employers aren...

By Howard Schneider, Jonnelle Marte and Lindsay Dunsmuir WASHINGTON (Reuters) - Federal Reserve officials last month felt substantial further progress on the U.S. economic recovery "was generally seen as not having yet been met," but agreed they should be poised to act if inflation or other risks materialized, according to the minutes of the central bank's June policy meeting. In minutes that reflected a divided Fed wrestling with new inflation risks but still relatively high unemployment, "various participants" at the June 15-16 meeting felt conditions for reducing the central bank's asse...

Latest updates on this topic from reliable sources.

On CNBC's "Fast Money," Car...

By Syndicated Content By Howard Schneider WASHINGTON (Reuters) – Tension between sticky job markets and rising prices could pose a growing problem for U.S. Federal Reserve officials who have staked an aggressive monetary policy on the belief they can avoid a conflict between returning U.S. employment to pre-pandemic levels and keeping inflation under control. Traditionally, some trade-off between the two is regarded as unavoidable, with the cost of controlling inflation paid in slowed growth and fewer jobs as the Fed raises interest rates to cool things off. But weak inflation o...