There is no correlation between the Fed's job openings metric (JOLTS) and wage growth; JOLTS is an unreliable metric with only two decades of history (starts in 2000) and is highly gaming-able (e.g., whispering job openings at a job fair counts as an opening), yet the Fed is using it to justify continued tightening.
factualpending
Speaker
David RosenbergEvidence Quote
“There's no reason to believe that they're real...That's a very fabricatable number. Oh, that's an opening. The reality is this...There's no correlation with wages.”
Source
DoubleLine Round Table Prime, 2023 - Part 1: Macroeconomic State of Play 1-4-23— DoubleLine CapitalCreated: 8/11/2026, 1:33:48 AM
My Notes
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