Jobs
Job Markets Are Defying Central Bankers’ Efforts to Cool Demand
- Unemployment remains low in developed economies as rates soar
- Weaker hiring would allow central banks to slow tightening
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Robust labor markets are defying central bankers’ efforts to tamp down inflation and economists’ predictions that recession is just around the corner.
The strong job market is good for workers. But it’s bad for inflation, signalling to the world’s central banks, which are raising interest rates at the most aggressive pace in decades, that they can’t ease up.