Labor is too hot to handle

Economic Insights by Nationwide · Feb 3, 2023 · 18m

The market for workers remains very tight and is supporting economic growth - while concerns for a potential recession continue to build. Wages for employees are rising, which is great news for households, but makes it more challenging for the Fed to lower inflation. This week the Fed raised rates again for the eighth time in a row. How much impact are these rate hikes having on the labor market - and what's our outlook for future rate hikes? [NFM - 20130AO.66]