Automotive Dealer's Weekly Market Update
The Automotive Advisor Team
Economic Update:
People are working and earning income. The labor market tightness index reveals that the US labor market is gradually becoming less tight, despite still strong job growth. However, it's still tighter than any period in the half-century before the pandemic. Reasons for wage growth:
Many people are changing jobs.
When there is a mismatch between the number of open positions and the number of available workers.
If many people are employed and feel secure in their ability to find a new job and aren’t actively looking.
All of these indicators typically favor inactivity by the Fed to stimulate the economy and reduce interest rates.
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