‘Morning Joe’ Devotes Segment to How Wage Growth Is Trailing Inflation

‘We have more jobs openings than ever before’

EXCERPT:

RATTNER: “What we've had for the first time in our history, except for one recent period right before the pandemic is more jobs available per worker and so you see there are 1.4 jobs available in this country for every unemployed workers who wants a job. And that’s a record we have not seen before. And what's particularly interesting is if you look just to the left, you see the last time that we did have this situation, which was the first time we've had it in modern history, the unemployment rate was 3.5 percent. Today the unemployment rate is 4.8 percent which means a lot of Americans are choosing not to take jobs. That’s particularly true in lower wage industries like the leisure and hospitality with the ratio is as high as 10 percent versus 7 percent in the country as a whole.” 

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