• SCB@lemmy.world
    link
    fedilink
    arrow-up
    2
    arrow-down
    2
    ·
    edit-2
    1 year ago

    Fed is hiking rates to make borrowing less attractive which hurts new job growth and limits expansion.

    The inflexible labor market is a result of demand for labor vastly exceeding supply, largely due to shitloads of people cashing out and retiring during COVID, and the Fed is getting that closer to parity.

    I say “getting closer to parity” because we’re still adding hundreds of thousands of jobs per month on net in a market that is as favorable to labor as any in around 80 years.