Fed Will Cut Due to Slowing Growth Evident in Jobs Data, Pimco's Wilding Says

The transcript discusses economic forecasts by PIMCO, focusing on payroll numbers and their implications for the economy. It highlights a slowdown in private payroll growth and the significance of aggregate hours as an economic indicator. The discussion also covers wage growth, noting a secular decline in productivity affecting wage increases. The market's reaction to job reports and the likelihood of a Fed rate cut are analyzed, considering the unemployment rate and participation trends.

What factors are contributing to the current wage growth trends?

How might the labor market react as the economy slows down?