Wall Street is concerned over a bounce-back in the labor market January – despite job gains in the hundreds of thousands, markets slumped.
that took place in January in spite of omicron bodes well for workers — but Wall Street is considerably less impressed. On the heels of a surprisingly robust jobs report that showed gains of 467,000 in January, markets slumped.
“The market is more concerned about the outlook for inflation than the outlook for growth at this point, especially given the intense focus on Fed policy,” said Zachary Hill, head of portfolio management at Horizon Investments. That tension between Wall Street and Main Street is a challenge for policymakers trying to steer the economy into a new phase of post-pandemic normalcy.
What this report emphasized is we had a steady flow of workers back into the labor force, despite concerns about labor shortages. “What this report emphasized is we had a steady flow of workers back into the labor force despite concerns about labor shortages,” Zhao said.
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