One of President Biden’s economic advisors tells Brownfield Friday’s jobs report is likely to set the stage for this year’s labor market.

Jared Bernstein says the unemployment rate fell almost three points in 2021.

“That’s the fastest decline on record for the jobless rate,” he says.

At the same time, he says wages are rising faster than inflation.

“They’re actually growing faster for lower and middle-wage workers than they are for higher-paid workers,” he says.

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