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Job Openings Surge While Hiring Stays Sluggish
In this episode of The Macro Memo, Lucas and Luna dig into the latest JOLTS data showing job openings surged to 7.6 million in April while hiring remains tepid. They explore why employers are posting more roles but not filling them, connecting the dots to wage growth, the Fed's rate calculus, and the broader labor market mystery. With the unemployment rate stuck at 4.3 percent and average hourly earnings creeping up, the hosts debate whether this is a sign of structural mismatch or just cautious hiring. Specific data points include the 7,618,000 job openings figure, the 159 million…
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