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Jan 26, 2024 · The inflation rate fell from a high in June 2022 of 9.1% to 3.4% as of December 2023; the Federal Reserve funds rate rose to between 5.25% and 5.50%; unemployment remained below 5%—a threshold ...
Aug 28, 2023 · By Laura Feiveson, Deputy Assistant Secretary for MicroeconomicsToday, the Treasury Department released a first-of-its-kind report on labor unions, highlighting the evidence that unions serve to strengthen the middle class and grow the economy at large. Over the last half century, middle-class households have experienced stagnating wages, rising income volatility, and reduced intergenerational ...
Oct 15, 2024 · Photo by Ian Wagreich. The COVID-19 pandemic caused a major disruption in America’s labor force—something many have referred to as "The Great Resignation." In 2022, more than 50 million workers quit their jobs, following the 47.8 million who did so in 2021. In 2023, this trend gradually subsided, with 30.5 million workers resigning as of ...
Jun 14, 2024 · The overall economic impact of last year’s strikes was minimal, and U.S. economic growth continued to outpace its peers. However, some massive union contracts, including those for rail and ...
- Upamanyu Lahiri
Aug 13, 2024 · Such programs can better match workers to available jobs and reduce the impact of labor tightness. In the United States, the latest employment data found a small increase in the labor force participation rate, which rose to 62.7 percent, with the participation rate among women of prime working age reaching 78.1 percent, matching the record set ...
- Kweilin Ellingrud
May 30, 2023 · A 1 percentage point (pp) increase in labor costs causes only a 0.15pp rise in the contribution of NHS prices to core PCE inflation over a four-year horizon, which is less than 0.04pp per year. This implies that the recent run-up in the employment cost index (ECI) is contributing only about 0.1pp to current core PCE inflation, stemming entirely ...
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Apr 13, 2022 · Here are what I think are the most important facts on the currently tight job market and recent wage growth. 1. Until recently, nominal wages have more than kept pace with inflation, allowing real ...
