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

• 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.