Revisions Show Marked Labor Market Deceleration Trend

The transcript discusses the current economic uncertainty and labor market trends, highlighting a pronounced deceleration in hiring. It examines the impact of labor costs on hiring practices and questions the underlying economic momentum. The discussion also speculates on Janet Yellen's potential response to these trends, particularly regarding interest rate decisions. The analysis suggests that while some economists view the economy as mature, the current hiring slowdown is not accompanied by rising wage pressures, raising concerns about economic health.

What does the first section suggest about the labor market trend?

• It is accelerating rapidly.

• It is showing a pronounced deceleration.

• It is a temporary anomaly.

• It is unaffected by economic changes.

According to the second section, what typically happens when labor costs rise?

• Hiring rates increase.

• Hiring rates remain unchanged.

• Hiring rates moderate or decrease.

• Labor costs have no impact on hiring.

What is the current situation regarding labor costs and hiring, as discussed in the second section?

• Labor costs are rising significantly, causing hiring to slow.

• Labor costs are stable, yet hiring is slowing.

• Labor costs are decreasing, leading to more hiring.

• Labor costs and hiring are both increasing.

What is Janet Yellen expected to do in response to the economic data?

• Immediately raise interest rates.

• Lower interest rates to stimulate the economy.

• Ignore the data and continue as planned.

• Wait for more information before making a decision.

What is the implication if Janet Yellen only halfheartedly defends a midyear hike?

• It indicates uncertainty about two hikes in 2016.

• It suggests confidence in two hikes this year.

• It confirms that no hikes will occur.

• It means a single hike is guaranteed.