Know The Difference Minute

According to today’s JOLTs report, openings fell below 10 million in February, the first time in almost 2 years. 

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The jobs puzzle
Welcome to the Know the Difference Minute for Tuesday, April 4th.
The Federal Reserve has a dual mandate: price stability and maximum employment. On the employment side, good news is actually bad news—at least in a high inflation period.
Since May 2021 job openings have outnumbered available workers by nearly 2 to 1. This creates "wage inflation" and increases payroll costs which then impact bottom lines. In response, the Fed has raised interest rates 9 times since last March to slow employment growth.
The Fed's efforts may be having some effect. According to today’s JOLTs report, openings fell below 10 million in February, the first time in almost 2 years.
This could be a moot point. A new Labor Department jobs number arrives Friday. If up, it’s a repeat of December. What followed was yet another rate hike from the Fed.
I’m Dave Spano from Annex Management. That is your Know the Difference Minute.