Behind The Markets Podcast: James Bullard
Behind the Markets Podcast
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What Do You Think About Labor Market Performance?
Job growth has been strong this year. How then can we have virtually no growth in GDP? The productivity numbers for the first half are of course terrible because you added a lot of workers and didn't get any more output, so the productivity is way down. So I was going to say that I don't think my prognostigation in February was as wrong as it looks now. But I do think that the slowdown in 2022 has been sharper than I would have imagined coming off the banner year of 2021.
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