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IL30: How To Evaluate True Macro Risk? ft. Philipp Carlsson-Szlezak
Top Traders Unplugged
Tight Labor Markets Foster Economic Growth
Tight labor markets, which began in 2017, indicate a scarcity of labor reflected in low unemployment rates. This tightness promotes wage growth, especially for lower-income workers. While COVID-19 caused a temporary spike in unemployment, the labor market quickly returned to its tight state, reinforcing the trend. Unless interrupted by significant economic disruptions, such as major recessions or financial crises, tightness tends to be self-reinforcing. This environment compels businesses to adopt technology and improve productivity, ultimately benefiting the macro economy. Historical evidence suggests that periods of labor market tightness can lead to sustained economic advantages, making the 2020s potentially positive for growth and productivity.
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