Stagflation Is Reshaping the Job Market You Know

Stagflation Conversations with Fexingo: High Inflation, Slow Growth, and 1970s Echoes · May 25, 2026 · 8m · transcript

In episode 10 of Stagflation Conversations, Lucas and Luna examine how stagflation is transforming the U.S. labor market in ways that break the old rules. With unemployment stuck at 4.3 percent even as job openings fall — JOLTS dropped to 6.866 million in March — and average hourly earnings barely creeping up to $37.40, the hosts argue we're seeing a structural shift, not a cyclical blip. They zoom in on the growing mismatch between open roles and available workers, the decline in labor market fluidity, and why wage growth isn't keeping pace with inflation. Using recent data…