Latest / The Macro Memo with Fexingo: Daily Conversations on Inflation, GDP, and Federal Reserve Policy
Why Job Openings Are Falling While Unemployment Stays Low
Lucas and Luna dig into the latest JOLTS data showing job openings have dropped to 6.87 million, the lowest since early 2021, while the unemployment rate holds at 4.3 percent. They explore what this 'cooling without cracking' labor market means for the Fed's rate path, consumer confidence, and the broader economy. With core PCE still sticky at 3.3 percent and geopolitical shocks from the Iran war pushing energy costs higher, the hosts debate whether the current tight labor market is masking a deeper slowdown. Lucas brings historical context from the 1990s 'soft…
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