Tag Archive: labor demand

From Friends to Nemeses: JO and Jay

It was one of the first major speeches of his tenure. Speaking to the Economic Club of Chicago in April 2018, newly crowned Federal Reserve Chairman Jerome Powell was full of optimism. At that time, however, optimism was being framed as some sort of bad thing. This was the height of inflation hysteria, where any sort of official upgrade to the economic condition was taken as further “hawkishness.”

Read More »

No Surprise, Hysteria Wasn’t a Sound Basis For Interpretation

What gets them into trouble is how they just can’t help themselves. Go back one year, to early 2018. Last February it was all-but-assured (in mainstream coverage) that the US economy was going to take off. The bond market, meaning UST’s, was about to be massacred because the overheating boom would force a double shot down its throat.

Read More »

Was There Ever A ‘Skills Mismatch’? Notable Differences In Job Openings Suggest No

Perhaps the most encouraging data produced by the BLS has been within its JOLTS figures, those of Job Openings. It is one data series that policymakers watch closely and one which they purportedly value more than most. While the unemployment and participation rates can be caught up in structural labor issues (heroin and retirees), Job Openings are related to the demand for labor rather than the complications on the labor supply side.

Read More »