Matt Grossman
speaker
182 appearances
3 recordings
1 series
first heard Apr 2022
last heard Jan 2025
Matt Grossman’s voice in public audio — every appearance, attributed to the second.
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Appearances
Now we're at a point where the Fed has raised interest rates a lot to try to fight inflation.
And so it's harder for companies to expand, which is what the Fed has been aiming for.
And companies have filled a lot of the positions that they needed people for.
So if you didn't get one of those musical chairs when you needed one, then it could be too late in some professions.
But who cares?
Big retailers are making record profits.
That's why we support the Durbin Marshall credit card bill.
See?
While increasing megastore profits.
They deserve it, don't they?
The headline unemployment rate does not look so bad.
But when you think about the experiences that people are actually having in the labor market, it can be a lot tougher than it might seem from that number.
A couple of years ago, for every person who was looking for a job, there were two job openings for them.
Recently, that's fallen down to more like one job opening per person.
And, of course, that doesn't mean that everybody can just easily get a job because those jobs might not be in the same industries that the people have experience in who are looking for jobs.
So what that means is that relatively low headline unemployment rate can be hiding some of the challenges that people have, especially if they're out of work right now.
After the pandemic, there was a big uptick in hiring for a couple of reasons.
There were some industries, especially around technology and digital services, when everyone was working from home that were really growing very quickly.
And it was also a time when interest rates were very low, meaning that when companies wanted to expand and borrow money to do that, it was very cheap and accessible for them.
Now we're at a point where the Fed has raised interest rates a lot to try to fight inflation.
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