That, for now, is the consensus of economists speaking at the annual meeting of the discipline’s largest association. On Friday, the Labor Department reported payrolls rose solidly in December and unemployment remained close to a half-century low at 3.7%. Economists polled by Dow Jones Newswires expect the Labor Department to report on Thursday that consumer prices rose 3.3% in December from a year earlier. But changes like that may be just one-off boosts, with productivity growth returning to its sluggish pace afterward. For instance, federal assistance for workers displaced by trade has in the past stumbled at helping those displaced by labor-saving technology.

Source: Wall Street Journal January 07, 2024 15:04 UTC