Shining a Light on Labor Market Data that have Leading Economic Indicator Properties

Former JPMorgan Chase Global Chief Economist & PH.D. in Economics

Oct 11, 2022

∙ Paid

We often hear that the Federal Reserve should never use labor market data to set the federal funds rate each month because the data represent lagging economic indicators. The problem with this argument is that it is simply untrue! A subset of labor market data in the monthly JOLTS Survey generated by the BLS (Bureau of Labor Statistics) has proven to…

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