The Labor Market Podcast with Fexingo: Jobs Reports, Unemployment, and Wage Growth

Episode 57 of The Labor Market Podcast examines a quiet but significant shift: after two years of record-low quit rates, workers are starting to leave their jobs again. Lucas and Luna dig into the latest JOLTS data showing job openings surged to 7.6 million in April 2026, while quits ticked up from 2.8% to 2.9%. They explore why this matters — from wage acceleration at the bottom to the return of...

In this episode of The Labor Market Podcast, Lucas and Luna dig into a puzzle that's been quietly building for months: job openings are climbing back above 7.6 million, but hiring hasn't budged. Using the latest JOLTS data from April 2026, they explore why employers are posting more roles yet filling fewer of them. Lucas points to the growing gap between openings and hires — now over three million...

In this episode of The Labor Market Podcast, Lucas and Luna explore a puzzling disconnect in the May 2026 JOLTS data: job openings surged to 7.6 million, but hiring remains sluggish and the quits rate is flat. They unpack why employers are posting more roles without filling them, how the mismatch between skills and location is worsening, and what this means for workers and the Fed. With specific d...

Job openings jumped to 7.6 million in April, the highest in over a year. But look closer and a different story emerges: the bulk of those openings are for part-time and gig-based roles, while full-time permanent positions are stagnating. Lucas and Luna dig into the JOLTS data alongside the 4.3% unemployment rate and rising jobless claims to reveal how employers are restructuring work to avoid bene...

Episode 53 of The Labor Market Podcast digs into a worrying trend that's flying under the radar: long-term unemployment is creeping back up even as the headline jobless rate stays flat at 4.3 percent. Lucas and Luna examine new data from the Bureau of Labor Statistics showing that the share of unemployed workers out of work for 27 weeks or longer has risen to 22.6 percent, up from 19.8 percent a y...

Episode 52 of The Labor Market Podcast digs into one of the most reliable recession signals: the collapse of temporary help jobs. With the latest data showing another sharp drop in temporary worker payrolls, Lucas and Luna examine why this leading indicator still matters, how it connects to the larger labor market slowdown, and what the current numbers say about recession risk. They reference spec...

The traditional assumption that a full-time job is a worker's primary income source is crumbling. In this episode, Lucas and Luna examine a quiet but accelerating trend: the rise of the 'portfolio career' as a deliberate risk-management strategy. Drawing on May 2026 data showing stagnant wage growth of just 2.4% year-over-year in median weekly earnings, and a JOLTS report where job openings are st...

Lucas and Luna explore why labor market fluidity—the rate at which workers switch jobs and employers fill vacancies—has dropped to levels not seen since the early 2010s. Using May 2026 data showing job quits falling below 2 million for the first time in years, they examine how declining churn is affecting wage growth, employer hiring strategies, and the Fed's policy outlook. They also discuss the...

In this episode, Lucas and Luna dig into one of the most overlooked recession signals: the temporary help industry. With the latest BLS data showing temp jobs down 2.8% year-over-year—a steeper drop than before the 2020 recession—they explain why staffing agencies are the canary in the coal mine for broader layoffs. Lucas walks through the mechanics: when companies aren't sure about demand, they c...

The temporary help services industry is losing jobs for 14 consecutive months, a pattern that has preceded every U.S. recession since the 1980s. In this episode, Lucas and Luna break down the data from the May 2026 jobs report to show how temp staffing is acting as a canary in the coal mine. They explore why employers turn to temps first and cut them first, what the current 14-month decline means...

The May jobs report showed average hourly earnings rising to $37.50, but that headline masks a growing divide: small businesses are raising wages far more slowly than large corporations. Lucas and Luna examine data from ADP and the Atlanta Fed Wage Tracker to explain why Main Street employers can't keep up with Amazon and Walmart, and what that means for the 35 million Americans who work at firms...

In this episode, Lucas and Luna explore a quiet shift in the labor market: employers are increasingly splitting full-time positions into part-time roles to avoid paying health insurance and other benefits. With the unemployment rate steady at 4.3% and nonfarm payrolls ticking up, the data shows a surge in part-time employment for economic reasons — up 12% year-over-year. The hosts drill into recen...

Lucas and Luna dig into a surprising new trend in the May 2026 jobs report: average hourly earnings are up 4.3% year-over-year, but the gains are heavily concentrated among workers who haven't switched jobs. They explore why stayers—employees who remain in their current role—are seeing faster wage growth than job switchers for the first time since the pandemic. The hosts examine the role of remote...

In this episode of The Labor Market Podcast, Lucas and Luna look at the fed's evolving interpretation of the same jobs data. With payrolls up modestly and jobless claims rising, they discuss why the fed may focus more on wage growth than headline job numbers, and what that means for interest rates. They also consider how consumer price inflation at 4.2 percent is affecting the central bank's outlo...

With inflation hitting 4.2% annually in May 2026 and hourly earnings up just 2.4% year-over-year, workers are trapped between rising costs and stagnant pay. Lucas and Luna dig into the latest data: unemployment flat at 4.3%, job openings surging to 7.6 million, yet quits are down and wage growth is concentrated among job-switchers. They unpack the New York Fed survey showing financial anxiety at i...

The New York Fed's Survey of Consumer Expectations dropped a bombshell in June 2026: household worries about finances hit their highest level since July 2022. Lucas and Luna dig into what's driving this anxiety — stagnating real wages, elevated jobless claims, and the disconnect between a strong headline jobs number and how families actually feel. They explore why consumer sentiment has become a l...

The May jobs report lands Friday and the ADP number surprised to the upside — 122,000 private payrolls added. But here's the thing: the Fed isn't looking at that headline. Lucas walks through why the central bank has quietly shifted its attention from job creation to a different metric entirely. Luna pushes back on whether the market is misreading the Fed's next move. They dig into the New York Fe...

On this episode of The Labor Market Podcast, Lucas and Luna examine a surprising trend: workers over 55 are staying in their jobs at record rates, even as job openings surge and signing bonuses return for younger workers. Using data from the latest JOLTS report showing 7.6 million openings and the New York Fed survey showing household financial worries at a two-year high, they explore the 'stay pu...

The job market on paper looks solid — unemployment at 4.3 percent, payrolls up, job openings surging to 7.6 million. Yet a New York Fed survey this week shows household financial worry at the highest since July 2022. Lucas and Luna unpack the disconnect between macro labor data and the stress consumers actually feel. They drill into the gap between headline employment numbers and the rising cost b...

The May jobs report is due Friday, but a quieter crisis is already visible: long-term unemployment is surging, and it's hitting older workers hardest. Lucas and Luna dig into the latest data—unemployment at 4.3%, job openings at 7.6 million, and a growing mismatch that's leaving experienced professionals out in the cold. They explore why companies are reluctant to hire workers over 50, the hidden...

With the May jobs report due Friday and unemployment claims rising to 225,000, Lucas and Luna dig into why the Federal Reserve is paying more attention to the Employment Cost Index than to headline payroll numbers. They break down how wage growth in the ECI hit 177.5 in Q1 2026, up from 176.23, and why that matters more for interest rates than the 159 million jobs number. Plus, they connect the ti...

In this episode of The Labor Market Podcast, Lucas and Luna unpack the growing divergence between two closely watched labor market indicators: the ADP private payrolls report and the JOLTS job openings survey. With ADP showing 122,000 jobs added in May—stronger than expected—and JOLTS reporting 7.6 million openings in April, the hosts explore why these numbers seem to be telling different stories...

New data shows that workers who stay put are now seeing faster wage growth than job-hoppers — a reversal of the pattern that dominated the post-pandemic labor market. Lucas and Luna break down the numbers from the May 2026 jobs report and the Employment Cost Index, explore why employers are raising pay to retain talent rather than attract it, and discuss what this means for your next career move....

The May jobs report is out Friday, but beneath the headline numbers, a quieter divide is opening up. Wages are growing at 4.2 percent for job switchers but barely 3.5 percent for those who stay put. Lucas and Luna dig into the data from the Atlanta Fed's Wage Growth Tracker, the latest JOLTS numbers, and why this gap tells us more about the labor market than the unemployment rate. They explore how...

The May jobs report is out Friday, but the real story isn't the headline number — it's the growing gap between the booming high-end services sector and the struggling lower-wage industries. Lucas and Luna dig into the data behind the divergence: why job openings hit 7.6 million in April while long-term unemployment keeps rising, and what that means for workers in retail, hospitality, and manufactu...