U.S. Jobless Claims Soar by 62,000 on Hurricane Harvey

The video discusses the significant increase in nonfarm productivity and the slight rise in unit labor costs, highlighting a labor shortage that prompts companies to boost productivity to counter wage gains. It delves into the puzzling low wage growth and inflation despite tightened labor markets and meaningful job gains. The discussion extends to the ECB's policy stance, questioning the urgency to change policies when labor utilization in peripheral countries remains below expectations.

How have job or wage gains compared to expectations according to the text?

What is the current situation regarding labor utilization in peripheral countries?