Latest / The Macro Memo with Fexingo: Daily Conversations on Inflation, GDP, and Federal Reserve Policy
Why Strong Jobs Hide Weak Wages
The October jobs report showed 165,000 new positions and a 4.1% unemployment rate, yet average hourly earnings growth has stalled. Lucas and Luna explore how labor hoarding is masking wage stagnation. With real GDP up 3.4 percent year-over-year but core CPI sticky at 2.8 percent, we ask if the Fed's patience is pricing in a hidden cost for workers.
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