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
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.
Yeah, one of the Fed's goals is definitely to maximize the number of people who are employed.
But obviously, they're also really concerned about inflation.
And if you have a situation like we did a couple years ago where a lot of companies are competing to hire the same workers, then that pushes up everybody's wages, which in turn –
can lead to a lot of inflation.
So the Fed definitely wants as many people to have a job as they can.
But at the same time, when the labor market gets too tight, that's also a concern of theirs.
Yeah.
So to understand that, I think it's helpful to think about the other half of the labor force, those blue-collar jobs.
If you think about what some of those professions are, people who are waiters and waitresses, people who are in nursing or other really hands-on types of work like that, there's always a need for people to fill those roles.
As long as there are restaurants or people suffering from health
conditions.
Those are very labor-intensive jobs that you're always going to need varying levels of skills and experience to help out in those workplaces.
Also, something you can't do remotely, something you can't outsource to other countries.
In the world of white-collar jobs, companies can try to be more flexible about jobs like that, and now there's a lot of new technology that can help them.
For example, if you think of a
law firm that has in the past hired a lot of paralegals.
If the economy seems to be slowing down, they might just try to get their current staff to do more work per person.
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