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Fed Chair Jerome Powell: "Whether we can execute a soft landing or not, it may actually depend on factors that we don't control."

by Kai Ryssdal and Marketplace Staff
May 12, 2022
"I think the one thing we really cannot do is to fail to restore price stability," Powell told Kai Ryssdal.
Federal Reserve Chair Jerome Powell, left, speaks with Marketplace host Kai Ryssdal in Washington, D.C., on Thursday.
Nancy Farghalli/Marketplace
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As labor shortage persists, fewer immigrants means fewer workers

by David Brancaccio , Chris Farrell and Erika Soderstrom
May 9, 2022
The U.S. had 2 million fewer working-age immigrants at the end of 2021 than it would have had if pre-pandemic trends continued.
The decline in immigration may be contributing to the scarcity of workers relative to employers' needs. Immigrants are also well-represented among the ranks of entrepreneurs.
Oliver Douliery/AFP via Getty Images
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We're about 3.5 million potential jobs short of a full recovery

by Mitchell Hartman
May 9, 2022
We’ve now regained more jobs than we lost early in the pandemic in some sectors.
Now Hiring signs are displayed in front of restaurants in Rehoboth Beach, Delaware, on March 19, 2022. (Photo by Stefani Reynolds / AFP) (Photo by STEFANI REYNOLDS/AFP via Getty Images)
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As jobs rebound, those paying least are hardest to fill

by Mitchell Hartman
May 6, 2022
Health care, child care and K-12 education, which offer jobs with lower pay that need to be done in person, have yet to fully recover.
A company seeking aluminum workers posted an ad on a bus in Portland, Oregon. The private sector has been able to raise wages and hire people faster than the public sector.
Mitchell Hartman/Marketplace
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As employers compete for scarce workers, some employees are winning big wage gains

by Mitchell Hartman
May 6, 2022
On average, wages aren't rising as fast as inflation. But not all workers are getting average raises.
New data show that hourly wages are up by 5.6 percent on average as of March, but employees are demanding more from employers in a strong labor market.
Olivier Douliery/AFP via Getty Images
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Is a wage-price spiral driving inflation?

by Mitchell Hartman
May 4, 2022
Wages are rising fast, but not as fast as prices. When inflation expectations drive workers' demands for higher pay, inflation can spiral out of control.
Rising prices can motivate workers to seek higher pay. Both are increasing quickly.
Joe Raedle/Getty Images
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Economic Pulse

Who is being left out of the conversation when we talk about jobs?

by David Brancaccio , Jarrett Dang and Erika Soderstrom
May 4, 2022
We spoke with Alex Camardelle, director of Workforce Policy at the Joint Center for Political and Economic Studies, for an answer.
"When we look at some of the disaggregated dynamics of the labor market, in terms of race, ethnicity, gender, we recognize that not everybody is doing so well," says Dr. Alex Camardelle of the Joint Center for Political and Economic Studies.
Olivier Douliery/AFP via Getty Images
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Another week of historically low unemployment claims confirms the job market's on fire

by Mitchell Hartman
Apr 21, 2022
Two years ago, more than 4 million people filed for benefits in a single week. This year, the number's around 180,000.
The data on recent filings for jobless benefits compares favorably with pre-pandemic levels, but nearly 2 million people were working before the pandemic who aren’t now.
Spencer Platt/Getty Images
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The job market continues to roar back. How long can the recovery keep going?

by Mitchell Hartman
Apr 1, 2022
At the current rate of job creation, the economy will return to pre-pandemic employment levels this year.
Payrolls increased by 431,000 jobs in March, and the unemployment rate is almost as low as its pre-pandemic level.
Spencer Platt/Getty Images
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Professional and business services hiring is well above pre-pandemic levels

by Justin Ho
Apr 1, 2022
One factor that may have contributed to this growth? Jobs in accounting, IT, consulting and similar roles can still be done remotely.
Getty Images
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