Economist seem baffled about job creation, even in the economic slowdown. This month the US unemployment rate dropped to 3.5% , the lowest level in more than 50 years . The Fed, which keeps raising rates and trying to reduce asset prices, simply cannot stop the growth.
While some of this is due to the economic cycle (and the money pumped into the economy during the pandemic), I believe something bigger is going on. The labor market has fundamentally changed, and we’re probably never going back to the old market again.
There are three big things going on, so let me […]
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