How low should wage growth go?

Marketplace

News, Business

4.6 • 8.6K Ratings

🗓️ 4 November 2022

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

Federal Reserve Chair Jerome Powell received some welcome news in today’s jobs report: Wage growth is slowing a tad. The gains certainly aren’t as low as the Fed is hoping for, but the moderation could be a hint that the job market is starting to cool off. Plus, Twitter provides an example of how not to go about layoffs, and YouTube’s copyright tool sparks frustration for musicians.

Transcript

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0:00.0	Ain't no Friday like a Job's Day Friday am I right?
0:05.7	From American public media, yes I am right.
0:08.6	This is Market Plank.
0:19.5	In Los Angeles I'm kind of rised out.
0:21.2	It is Friday today as I said the fourth day in November.
0:23.9	It is always to have you along.
0:26.1	Everybody we've got jobs today of course.
0:28.6	We've got the Fed this week of course.
0:30.5	So on this Friday we've got Gina Smiley from the New York Times and Amara Mokue from
0:34.2	the Wall Street Journal also of course.
0:36.2	Hey you too.
0:37.8	Hi.
0:38.8	So let me ask you this.
0:40.6	Jobs today 261,000 new jobs in this economy in October.
0:45.4	The rate bumps up a little bit to 3.7%.
0:47.6	We can talk about why.
0:49.8	The gist though is that this is not a labor market that's doing the Federal Reserve
0:52.8	any favors right?
0:54.6	Nope no favors at all.
0:55.6	I mean what the jobs report shows us is that.
0:58.5	The labor market is slowing somewhat but that it's still on the whole remains on pretty
1:03.9	solid ground.
	...

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