Katie Nixon, chief investment officer at Northern Trust Wealth Management, navigates the intricate web of labor market data, unpacking the divergent signals that have emerged since the beginning of 2024. Katie explores the relationship between unemployment and inflation, and the role they play in shaping economic trajectories.

Looking to the Monthly Nonfarm Payroll Report and the Job Openings and Turnover Survey, known as JOLTS, Katie highlights the complexities of interpreting these data sets and explains why taking a multidimensional approach is the best way to construct a nuanced understanding of this market’s dynamics.

Join Katie as she details why just one survey isn’t enough and why there are advantages to a data-driven approach to navigate the complexities of the labor market.

Highlights:

• (0:34) – What does the current data indicate about the labor market?
• (1:30) – What is the Philips Curve and why is it valuable?
• (2:43) - How do we make sense of labor market data?
• (5:09 )– Why do the Household Survey and the Establishment Survey sometimes present conflicting data?
• (6:25) - What is JOLTS?
• (8:46) – Why do we need to be careful when drawing conclusions from these surveys?

Links:

• Northern Trust - Wealth Management
• Northern Trust Twitter
• Katie Nixon Bio
• Katie Nixon LinkedIn

Feedback:

If you have questions about the show or topics you'd like discussed in future episodes, email our producer (contactnorthern@ntrs.com).