And he is going to be talking about a topic that isn’t immediately obviously relevant to real estate investors, but it’s super important and that is the labor market.Īnd if you’ve been following the news, you’ve probably seen that despite tech layoffs that have really made a lot of splashy headlines in January, which is the last data we have for the job market, as of this recording, there was an unexpectedly large number of jobs added over 500,000. And today, I’m going to be joined by an incredible guest, Joe Brusuelas, who is the principal and chief economist for RSM US. Tune in!Ĭlick here to listen on Apple Podcasts. So don’t sit on the sidelines and be surprised when these economic forces take shape. This directly affects almost every consumer in America, and investors can get ahead of the economy by knowing when this unemployment scale will finally balance. He also touches on how we may be entering an entirely different era of the economy, one with tight employment, higher interest rates, and higher inflation than we’ve been used to. Joe breaks down precisely what the Federal Reserve has been planning, when its interest rate hikes will finally take effect, and what the future of the labor market looks like. He knows exactly what it would take to make the labor market snap and push the country into a recession. As a leading economist with over twenty years of experience, Joe has seen multiple recessions, crashes, and unemployment crises. Joe Brusuelas, principal and chief economist for RSM US LLP, knows that we’re thinking about unemployment all wrong. So, did we successfully dodge an employment crisis, or is a rude awakening coming our way? With a higher cost of capital, businesses should be more selective with who they’re hiring and keeping, but instead, we’re seeing the labor market have much more power than they’ve had in the past. But it hasn’t, and many mainstream investors have struggled to determine why. With the Federal Reserve increasing its rate hikes over 2022 and into 2023, the labor market should have cracked already. Unemployment was supposed to be much higher by now.
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