“Consumers have money to burn and businesses are trying to hire people, but labor shortages are, if anything, getting worse,” said Sung Won Sohn, a finance and economics professor at Loyola Marymount University in Los Angeles. “I think we are seeing the beginning of a wage price spiral, and it is going to be a tough nut to crack, even for the central bank.”
Source: Reuters
U.S. Unemployment Rate Expected to Fall to 3.5% in April, Job Gains to Slow