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How Fed Rate Increases Could Help Other Central Banks; Higher Hurdle to Homeownership in the U S -- WSJ

Good day. Until now, central banks overseas have found it difficult to get on top of the inflation surge with the Federal Reserve sitting on the sidelines. But now with the Fed poised to join.

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Wages Rising at Fastest Rate Since 1980s As Businesses Rush to Rehire

Companies facing the US labor shortage are simply deciding to pay workers more. Average wages rose $0.15 in May. Together, the April-May jump is the largest since 1983. Job openings sit at record highs, and Americans are demanding higher pay before rejoining the workforce. For more than two months, businesses have faced difficulties in hiring. Data published Friday suggests employers are picking the simplest solution: paying workers more. Average hourly earnings jumped $0.15 in May to $30.33, the Bureau of Labor Statistics said in its monthly jobs report. The increase is roughly twice as large as those seen before the pandemic and follows a $0.21 gain in April.

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$300 Unemployment Benefit Has Small, But Noticeable Effect On Labor Shortage, Fed Paper Finds

$300 Unemployment Benefit Has Small, But Noticeable Effect On Labor Shortage, Fed Paper Finds
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Ending enhanced unemployment benefits alone won t get people back to work, SF Fed research suggests

Ending enhanced unemployment benefits alone won’t get people back to work, SF Fed research suggests MarketWatch 5 hrs ago Elisabeth Buchwald © Kiran Ridley/Getty Images People are dining out again, but some employers are struggling to hire more workers to keep up with demand. Some Republican governors are ending enhanced unemployment benefits in their states with the hope of encouraging unemployed Americans to apply for jobs again. At least 22 states are effectively running an experiment to find out whether or not scaling down unemployment benefits incentivizes more recipients to find new jobs. Video: Changed by pandemic, many workers won t return to old jobs (Associated Press)

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Only about one in 28 unemployed people actually turned down jobs to stay on expanded unemployment, Fed study says

The Fed paper found the $300 weekly benefit affected employers' perception of a labor shortage more than it actually led workers to reject job offers.

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