8.1%. americans are not slowing the benefits of higher pay that they net in this job market. neil: yeah, getting the best wage increases in decades and unfortunately the biggest inflation run-up in decades. thanks very much for that. lydia hu. kenny joins us, the case capitol advisingers managing partner. for a while, we were racing ahead 300 points on the dow, finishing up 90 points. at first they were surprised that a part of the core number which takes up food and energy barely budged last month. but then they thought better of writ. what happened? that was the initial reaction. they were looking for something positive and they focused on the one number, the core number, month over month when you take out food and energy. as lydia just said and your other guest just said, food, emergency and housing are the most expensive part and things
And when you talk about real wages when you factor in inflation what people really clear. i get that. but michael, let me get your sense of where this goes because prior to this inflation run-up and a lot of businesses were paying higher wages and their business was doing quite well and the pandemic came and everything else. so i don t know if the jury is still out on this issue, but businesses are in this position because their business is booming and they need more workers to address that booming business so they re caught in a tough position. how long do you think that lasts? so, neil, we have a few factors playing in here, right? obviously the big one is the extended unemployment benefits. the naysayers said this would keep people out of the work force and they were 100% correct. you re clearly seeing that now. the labor turnover survey 9.3 million, which is 2 million higher than the record before and then it has to do with the