Economic Complexity and Workforce Trends

Exploring shifts in hiring, pay trends, and workforce distribution over the past years, this chapter analyzes the impact of factors like geographic distribution, pay differentials, and occupational changes on the economy. It discusses the relationships between wage growth, inflation, consumer sentiment, and interest rate changes, highlighting differing experiences among high earners and low-income workers. The chapter also addresses concerns raised by a recent survey on middle-income workers feeling aligned with low-income workers, sparking debates on the labor market's future trajectory and its influence on consumer behavior.