Today's wage growth data shows a three-handle on the 12-month hourly wage data, with a three-month average at 2.8%, indicating a slower trend than expected.
Despite job openings reaching 12 million, now at 8.5 million, and labor market loosening, the Fed aims for 7 million, showing a moderate recovery trajectory.
Predicted a full job recovery by September 2022, aligning with the scheduled timeline, presenting a swift labor market turnaround.
Labor market improvements post-COVID-19 signal a less tight market, impacting Fed's stance on wage control fears and market conditions.
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