Inflation of 2% driving economic growth is a thing of the past, Nela Richardson, chief economist at ADP, said on CNBC's 'Squawk Box Europe' Friday.
Inflation of 2% driving economic growth is a thing of the past, Nela Richardson, chief economist at ADP, said on CNBC’s “Squawk Box Europe” Friday.
The aging population will extend the current labor shortage, the economist said, echoing a recent report predicting that the U.S. faces a long-term labor crisis that inevitably will lead to higher wages and a slowing economy. “But now inflation has awakened, and if you look at the demographic trends, labor shortages are not going away,” she continued. “It’s getting better, but that’s a structural change in the labor market because of the aging of the U.S. population.
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