1Source: “Inflation and the Labor Market”, Fed Chair Jerome Powell, https://www.federalreserve.gov/newsevents/speech/powell20221130a.htm
2Goodhart and Pradhan (2020) discuss a number of longer-term global forces impacting labor markets - the demographic effect of retiring baby boomers, ageing populations in emerging markets like China and Eastern Europe, and high demand for service-sector workers in healthcare services - in their recent book “The Great Demographic Reversal: Ageing Societies, Waning Inequality, and an Inflation Revival”.
3These are the underlying data used to compute the Atlanta Fed wage tracker.
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