U.S. Consumer Inflation Up 6.8% In Past Year, Most Since 1982

The video discusses the rise in inflation, its causes, and its impact on wages and the workforce. It highlights the temporary nature of current inflation due to supply chain issues and the pandemic. The Great Resignation is analyzed, showing that while many have quit jobs, hiring remains strong, especially in hospitality and retail. The pandemic has led to industry restructuring and a shift towards flexible work arrangements, with many rethinking job characteristics in terms of space and time.

What was the inflation rate in November, and how does it compare to the forecast?

• 6.8%, which is above the forecast

• 5.5%, which is below the forecast

• 6.8%, which matches the forecast

• 7.0%, which is above the forecast

What is one of the main reasons for the temporary rise in inflation?

• Increased consumer spending

• Supply chain constraints

• Technological advancements

• Government policies

How long is the temporary inflation expected to last before returning to historically low rates?

• 3 to 4 years

• 6 months to 1 year

• 1 to 1.5 years

• 2 to 3 years

How do wage gains during the pandemic affect low-income earners in the long run?

• They decrease over time

• They have no impact on long-term earnings

• They persist over time, providing long-term benefits

• They are completely neutralized by inflation

What is the 'Great Resignation' and how does it relate to workforce dynamics?

• A complete halt in hiring

• An overstatement of workforce changes

• A significant decrease in job resignations

• A term describing increased job stability

Which sector has seen both high resignation rates and active hiring?

• Education

• Finance

• Hospitality and food

• Technology

What has been a significant change in job characteristics due to the pandemic?

• Decreased job opportunities

• Decreased job flexibility

• Increased working hours

• Increased flexibility in space and time