The hottest Labor markets Substack posts right now

Production can be broken down into many steps, and a failure at any step can ruin the entire process. The skill level of workers, known as human capital, plays a key role in this.
Regions can be stuck in a bad place with low investment in education due to a lack of returns. Immigration can help individuals escape this situation, leading to better education and economic growth in both their new home and their original country.
Trade policies can significantly impact production. Quotas can be much more damaging than tariffs because they disrupt the entire production process, leading to larger losses than expected.

The Federal Reserve suggested that interest rates may have reached their highest point in this tightening cycle and could start decreasing later this year.
The Fed is cautious about lowering rates too soon and wants to see sustained progress in managing inflation before making any major moves.
Despite some challenges with inflation, the overall economy, especially the job market, remains strong.

People don't have accurate insights on the overall economy.
Personal experiences don't necessarily reflect economic trends.
To understand the economy, rely on economic theory and data, not people's opinions.

Supply and demand can explain a lot about labor markets, even for introductory economics students.
Workers respond to higher wages predictably, wages reflect productivity, and technology affects worker productivity.
Understanding supply and demand in labor markets can help explain trends like growing returns to education and the increasing cost of education.

AI can be great at human prediction tasks, but struggles with hard-to-predict events.
Legal issues around AI training data sets need to be solved.
Data ownership and availability are crucial in AI.

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