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10min chapter
Surveys, Sentiment and Stamps
Moody's Talks - Inside Economics
Surprise GDP Growth and Labor Market Dynamics
This chapter examines the unexpected 2.8% GDP growth, driven by strong consumer spending and inventory increases, juxtaposed against rising unemployment rates. It discusses the complexities of measuring economic potential and highlights the paradox of growth amidst labor market fluctuations, referencing Okun's law. Moreover, the chapter delves into the impact of post-pandemic changes in labor supply and the transformative effects of the gig economy.
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