Macrocast: Payroll Palooza
In this edition of the Macrocast, HPS Partner Matt McDonald joins Tony, John, and Brendan to analyze the August jobs report. According to the most recent numbers, unemployment is up, but that’s not bad news: As Matt explains, the increase in labor force participation and the addition of over 300,000 jobs bodes well for the economy. Plus, the group goes beyond the “quiet quitting” headlines to discuss what the phenomenon really means for workers and their managers. Will workers stagnate without going the extra mile? Or are they simply taking more time for what matters most to them?
One thing is for sure, as the chart below shows: Many workers are still spending more time at home, even as remote work recedes from its pandemic high. To close, the group discusses what workers might be doing with the extra time at home.
Read this week’s Five Minute Macro report from Markets Policy Partners here.
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