Institution: The expected slowdown in the job market will be faster than the Federal Reserve's expectations

ChainCatcher news, Pantheon macro analyst Samuel Tombs stated that the Federal Reserve will soon be concerned about "the oversupply of labor and weak wage growth." He noted that the increase in job vacancies in the November JOLTS report was unexpected, but there are signs that employment costs are cooling down. Tombs pointed out that the resignation rate dropped from 2.1% to 1.9%, "indicating a greater slowdown in (employment cost) growth." "Therefore, the average hourly wage has increased by 0.4% for two consecutive months, which seems like noise around a trend that is still slowing down." Tombs expects that the average hourly wage will slow down in the December non-farm payroll data to be released on Friday. (Jin Shi)