Good morning.

Monday in Whitewater will see thunderstorms with a high of 66. Sunrise is 5:54 and sunset is 7:51 for 13 hours 57 minutes of daytime. The moon is a waxing gibbous with 83.8 percent of its visible disk illuminated.
The Whitewater School Board meets at 6 PM.
On this day in 1978, John Ehrlichman, a former aide to President Nixon, is released from the Federal Correctional Institution, Safford, Arizona, after serving 18 months for Watergate-related crimes.
There’s solid evidence that we have a difficult job market, and there’s an obvious reason the difficult employment market gets less attention than concerns about prices.
First, the job market — new entrants to the workforce are in the toughest job market since COVID-19:
This year’s grads are trying to begin their careers in the toughest job market since the COVID-19 pandemic, which experts say has been driven by a broader slowdown in hiring.
Nicholas Jolly, a labor economist and associate professor of economics at Marquette University, said the labor market is “not nearly as hot” as it was in the years after the pandemic, which saw strong job growth as the economy reopened.
“We had a very tight labor market post-pandemic,” he said. “It’s now softened as markets have adjusted.”
Unemployment has remained low at 4.3 percent nationally in March and 3.4 percent in Wisconsin in February, the most recent months with available data. But the rate of job openings has been nearly cut in half since its peak in 2022.
“If the overall labor market is getting softer, it stands to reason that it’s going to get softer for entry-level jobs as well,” Jolly said.
See Joe Schulz, Wisconsin’s class of 2026 entering the workforce in the toughest job market since COVID-19 (‘Economists say AI isn’t yet a major factor in the tough entry-level job market’), April 27, 2026.
The contrast between concerns over a weak employment market and concerns over higher prices is evident. Polls consistently show respondents’ worries over higher prices (regardless of why those prices are higher) top respondents’ economic concerns. Here’s pollster and data analyst G. Elliott Morris on prices:
[P]eople still mostly just see high prices for things and get upset about that. And fair enough! My theory is that price levels account for much to most of the “puzzle” of why consumer sentiment is lower than you would predict based on the historical relationship between CPI, unemployment, the cost of money and etc.
See G. Elliott Morris, The mystery variable that explains stubbornly low consumer sentiment, Strength in Numbers, April 12, 2026.
Morris’s work shows that prices drive much of the sentiment about the economy’s direction.
Whether prices and inflation are the right economic focus is different from whether it’s a predictable, understandable focus. As a matter of overall sentiment, a difficult labor market is experienced most particularly by new labor force entrants, while higher prices are experienced by a greater number of Americans.
This does not suggest that a tough labor market matters less. A challenging labor market for new entrants may have worse economic consequences than a relatively low level of inflation, even if inflation is perceived as more significant.
The greater perception of inflation’s harm does explain, however, why there will be more attention (and lower consumer sentiment) about inflation than about a slow employment market.
And yet, and yet… both elevated inflation and a slow job market for new workers are signs of a poorly functioning economy.
_____
Upcoming posts (in no decided order): Claims of Legacy, a Particular Species of Democrat, a Whitewater Comparative Analysis, Whitewater’s Workforce, ‘What Ails, What Heals’ Reviewed, and Outcome Driven Argumentation.
Ships wait in the Strait of Hormuz as waterway remains blocked:



