Retiring Baby Boomers Creating Wage Pressures — Don’s Daily Brief
Happy New Year! Buckle up your chin straps, because 2023 is going to be something…
On the one hand, the market is grappling with recession induced by higher Fed rates — a recession that was going to happen regardless.
On the other hand, we have inflation driven by wages. With 10,000 Baby Boomers retiring every day, almost all of the decline in the working population is attributable to retiring Baby Boomers.
That labor tightness and the wage pressure is the theme for this year.
So we’ve got recession, inflation. That’s stagflation.
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