MNI PODCAST: FedSpeak - US Labor Market Show Signs of Cooling

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Oct-07 19:38By: Jean Yung
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  • Month-to-month job gains remain "substantial" compared to the pre-pandemic average of 90,000 new payrolls a month, but there are signs that labor demand is cooling.
  • San Francisco Fed economist Nicolas Petrosky-Nadeau says falling job openings and quits rates signal the Fed is "on a good path toward witnessing an orderly slowdown in the labor market."
  • An aging population explains almost all of the decline in participation since the pandemic, he says.

Listen to the podcast here.