Tag Archives: labour market disruption

The US labour market is tight, but wage growth remains relatively muted. Trends in e-retailing may provide part of the explanation.The US economy is challenging ‘textbook’ macroeconomics. The labour market is tight, but wage growth is paltry. Growth is chugging along steadily and the output gap (the difference between actual GDP and its theoretical trajectory at full potential) is gradually closing, but inflation remains muted.Clues as to why things are not panning out the way theory suggest...

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