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-Democratic/Biden economists were arguing we were still at full employment as late as early this year and some continue to say we are
-Obviously Trump-aligned people aren’t going to say anything negative about the labor market now
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Everyone is looking for some fancy explanation for why college graduates are having more trouble finding jobs: immigration, AI, declining value of degrees, etc.
Then answer staring us in the face is that the national labor market has been steadily softening since ~2022.
There’s also the fact that if you’re on the Fed and reluctant to cut rates it’s easier to avoid talking about the cloudy inflation picture by talking up the labor market.
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