Economic Policy Institute's Shierholz on Jobs Report

The transcript discusses unexpected job growth, particularly in leisure and hospitality, and its impact on the economy. It addresses concerns about the Delta variant's potential effects and inflation's impact on living standards. The discussion highlights wage growth in specific sectors and the role of fiscal stimulus in economic recovery, emphasizing the need for strategic policy decisions.

What was the unexpected trend in the leisure and hospitality sector?

• Decrease in job opportunities

• Stagnation in wage growth

• Significant job and wage growth

• Decline in economic activity

How might the Delta variant affect the economy according to the discussion?

• It will have a minor slowing effect

• It will lead to a complete halt in economic activity

• It will have no impact at all

• It will cause a major economic downturn

What is the main concern regarding inflation as discussed?

• Inflation is only a concern for policymakers

• Inflation is not affecting living standards

• Inflation is decreasing rapidly

• Inflation is impacting real wages and living standards

In which sector is wage growth most pronounced?

• Technology

• Healthcare

• Leisure and hospitality

• Manufacturing

What is the expected impact of wage growth in leisure and hospitality on overall wage pressure?

• It will have no significant spillover effects

• It will cause a recession

• It will lead to widespread wage pressure

• It will decrease job growth

What is the primary focus of the upcoming fiscal bills?

• Reducing taxes

• Investing in infrastructure and long-term growth

• Stimulating short-term economic growth

• Increasing government spending on defense

What challenge does the Fed face as the economy nears full employment?

• Increasing unemployment

• Deciding when to increase interest rates

• Reducing inflation to zero

• Decreasing fiscal stimulus