How an Infrastructure Program Would Impact Wages

The video discusses economic indicators such as non-farm payrolls and wage growth, highlighting the difference between real and nominal wage growth. It examines the potential impact of infrastructure spending on wages and inflation, and critiques past fiscal policies. The video suggests that retraining programs could support those affected by job losses due to globalization.

What is the expected unemployment rate mentioned in the discussion?

• 5.1%

• 4.9%

• 5.0%

• 4.8%

Why are the nominal wage numbers considered low despite real wage growth?

• Due to low inflation

• Due to low job openings

• Because of high inflation

• Because of high unemployment

What is a potential consequence of the proposed infrastructure stimulus program?

• Decrease in material prices

• Increase in wages

• Reduction in job openings

• Decrease in inflation

When is the ideal time for infrastructure spending according to the discussion?

• At the peak of the economic cycle

• During a recession

• When inflation is high

• When unemployment is low

What fiscal policy is suggested to help those who lost jobs due to globalization?

• Implementing trade barriers

• Investing in retraining and reeducation

• Reducing government spending

• Increasing taxes