June 3, 2022
OPEN THE BORDERS:
U.S. adds 390,000 jobs in May (Courtenay Brown, 6/03/22, Axios)
The U.S. economy added 390,000 jobs in May and the unemployment rate held at 3.6%, the government said on Friday. [...]Demand for workers has outpaced supply, a phenomenon that's helped push up wages. That pressure has been easing: average hourly earnings rose 5.2% from a year earlier, down from 5.5% in April.
Inflation is a function of the wage ratchet--open the borders and fill the demand for workers.
Posted by Orrin Judd at June 3, 2022 8:44 AM