What the April Jobs Report Means for Fed Policy

The transcript discusses the current state of employment and wage growth, highlighting the slow pace of wage increases despite nearing full employment. It examines labor market tightness, participation rates, and the impact of sectors like leisure and hospitality. The conversation also touches on the challenges of re-engaging certain demographics in the workforce, such as older workers and those affected by incarceration and drug use. Additionally, it explores the implications of monetary policy, including potential rate hikes, and the limitations of fiscal policy in addressing these issues.

What does the term 'full employment' mean in the current economic context?

What policies could potentially help re-engage workers who have been incarcerated?

How does the opioid crisis relate to labor market participation?