The Labor Market: Cyclical strength and structural change
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Do You Think We're in for a Correction in Labor Demand?
Job openings in april came down modestly month over a month, but they're still at record high levels. Do you think this is all real demand for workers? Because we've also been seeing some announcement s from a variety of firms where management is planning to curtail head count expansion. We're really in an unprecedented situation here with almost two job openings for every unempl plyed worker. That that is very unusual. And it's that give that that i think can allow the economy actually, you know, slow down to a a sustainable pace without too much damage from high inflation.
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