In this episode of The Labor Brief from ECON-versations with NABE, hosts Ellen Zentner and Julia Coronado unpack a payroll report that signals slower job gains and a cooling labor market. They explore how structural forces—tight immigration, an aging workforce, and shifting retirement decisions—are reshaping labor supply, while productivity remains surprisingly strong. The conversation also dives into uneven hiring across sectors, the growing divide between higher- and lower-income consumers, and what the latest data mean for Federal Reserve rate-cut expectations in the months ahead.

Join leading economists and policymakers at the 42nd Annual NABE Economic Policy Conference, February 22–24 in Washington, D.C. Organized around the theme The Great Realignment: Navigating AI, Demographic, and Geoeconomic Shifts, the conference offers a forward-looking examination of the forces reshaping the global economy. From rapid advances in AI to demographic change and rising geoeconomic tensions, attendees will gain timely insights and practical strategies for fostering resilient, inclusive growth in an increasingly complex world. Explore the full program featuring headliners Christine Lagarde, Christopher Waller, Lisa Cook, Daron Acemoglu, Charlie Cook, and more.