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The Fed’s mandate is for stable prices and maximum employment. By understanding the trends within the labour market, we can gain valuable insight into the likely monetary policy actions of the Fed.
With more slower kind of employment growth. if we didn't have the churn in the labor market out there and the quit rate we do, if we had a more sustained recovery where things were more in line and not as red hot in the labor market but adding jobs which is where the fed was like to go, we could see a situation where we saw wage gains outpace inflation and living standards improve. i think one of the critical issues here is that inflation hits 100 % of households. unemployment only hits a few percent of households. you can have 95 % of labor force working even with an increase in the unemploym...
Subject. i think normally, we have to remember some things. this number, while it's really high, is only 3% of the work force. and we normally see a quit rate of about 3 million a month. during the great recession when i was at labor, nobody was leaving their job. it dipped under 20 mill million the first time. i think this is a part of a normal process but certain things are pushing the number up. you think about the kids who graduated from college or high school in 2019 and 2020, they had no opportunities. the labor market was pretty stagnant at that point. so they took jobs that were not wh...
The Great Resignation shows little sign of abating and it is clear the pandemic has dramatically transformed the way employees now view the workplace
And bank stocks. but big tech stocks fell and that dragged the nasdaq lower. and we have this news. really important news about the state of the labor market. folks, a record 4.5 million americans quit their jobs in november. that is according to the b.l.s.. the largest quit rate was in hospitalities. look at what we've seen since may. millions of people are jumping ship for better-paying jobs, sometimes in different sectors altogether. those low-wage industries, people are just saying, take this job and shove it. also, investors today getting a glimpse of december's labor market with adp pr...