Watch our latest on-demand webcast with Haver Senior Economist Sandy Batten as he provides an informative assessment of the Beveridge Curve in today’s labor market.
The U.S. Fed is confronting the most unbalanced labor market in decades, which is complicating its battle to rein in inflation. A 70-year-old construct—the Beveridge Curve—has regained popularity. It conveys how well the labor market is matching those unemployed to job openings. Openings now exceed unemployment by a near-record amount. This means that the labor market is currently not doing a very good job.
The Fed hopes that by raising interest rates and slowing the economy, it will reduce openings without a meaningful rise in unemployment. But this assumes a marked improvement in the efficiency of the labor market. This will be a challenge.Click here to watch the webcast
Duration: 14 minutes
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