JPMorgan's Feroli Expects U.S. Job Growth to Slow

The video discusses the expected job gains for July, comparing them to previous months. It highlights the volatility in public sector jobs due to seasonal factors and suggests focusing on private sector data. The slow pace of wage growth is analyzed, with a discussion on labor market tightness and its potential impact on wages. Despite a skill shortage, job growth remains above trend, surprising economists. The video concludes with expectations for job growth to slow over time to stabilize the unemployment rate and inflation.

What factors are mentioned that could potentially change the pace of wage growth?

What does the text suggest about the relationship between job growth and the unemployment rate?