Unemployment was supposed to be much higher by now. With the Federal Reserve increasing its rate hikes over 2022 and into 2023, the labor market should have cracked already. But it hasn’t, and many mainstream investors have struggled to determine why. With a higher cost of capital, businesses should be more selective with who they’re hiring and keeping, but instead, we’re seeing the labor market have much more power than they’ve had in the past. So, did we successfully dodge an employment crisis, or is a rude awakening coming our way? Joe Brusuelas, principal and chief economist for RSM US LLP, knows that we’re thinking about unemployment all wrong. As a leading economist with over twenty years of experience, Joe has seen multiple recessions, crashes, and unemployment crises. He knows exactly what it would take to make the labor market snap and push the country into a recession. Joe breaks down precisely what the Federal Reserve has been planning, when its interest rate hikes will finally take effect, and what the future of the labor market looks like. He also touches on how we may be entering an entirely different era of the economy, one with tight employment, higher interest rates, and higher inflation than we’ve been used to. This directly affects almost every consumer in America, and investors can get ahead of the economy by knowing when this unemployment scale will finally balance. So don’t sit on the sidelines and be surprised when these economic forces take shape. Tune in! In This Episode We Cover Why unemployment has been so low and when the Fed’s interest rate hikes will kick in How employment is calculated and why qualified workers are so hard to find  “Labor hoarding” and the real reason big tech is so easily laying off workers  Unemployment rate predictions and whether it’ll be like the last recession  Entering a new era of the economy and why higher inflation, interest rates, and employment could be in our future  US immigration and how restricting foreign worker flow has caused a “tight” labor market  And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent BiggerPockets Forums BiggerPockets Agent BiggerPockets Bootcamps Join BiggerPockets for FREE On The Market Join the Future of Real Estate Investing with Fundrise Connect with Other Investors in the “On The Market” Forums Subscribe to The “On The Market” YouTube Channel Dave’s BiggerPockets Profile Dave’s Instagram How the Unemployment Rate Affects Us All (Yes, Even the Employed) Connect with Joe: Joe's Articles Joe's Email  Joe's Twitter   Check the full show notes here: https://www.biggerpockets.com/blog/on-the-market-88 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices