Know The Difference Minute

Today’s JOLTS report has 10.1 million openings in April, the most since January. That was unexpected and a setback for the Fed. 

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Strong jobs. Again.
Welcome to the Know the Difference Minute for Wednesday, May 31st.
Someday, when business books covering the early 2020’s are written, plan on a couple chapters about employment. From the short pandemic unemployment spike to pivoting to not-enough-workers for too-many-open-jobs, there will be a lot to write about.
We’re living it. Demand for workers drives up wages, which contributes to inflation. The Fed predicted temporary job pain might be needed before it got under control. So far, not so good. Unemployment is low. There are plenty of job openings.
Today’s JOLTS report has 10.1 million openings in April, the most since January. That was unexpected and a setback for the Fed. After 10 rate raises in 14 months, many were hoping for a pause from the Fed. With a strong labor market, that’s not a gimme.
Next up, Friday’s jobs report from the Labor Department.
I’m Dave Spano from Annex Wealth Management. That is your Know the Difference Minute.