Macrocast: Jobs, jobs, and more jobs with Michael Strain of AEI

In this week’s Macrocast, Ylan, John, and Brendan host a conversation with special guest Michael Strain, the Director of Economic Policy Studies and the Arthur F. Burns Scholar in Political Economy at the American Enterprise Institute (AEI). Their discussion begins by analyzing the addition of 216,000 jobs and a steadfast unemployment rate, examining how different economic indicators impact the Fed’s interest rate decisions. Additionally, they reflect on how inflation impacts consumer confidence, juxtaposing the strength of the American labor market against the reality of stretched budgets. With jobs top of mind, they explore AI’s potential to redefine jobs and wages, contrasting it with technological advancements in the 1980s. Specifically, they consider whether AI will be the great disruptor of high-wage roles or an unexpected ally, fostering innovation in some industries. Be sure to listen and, for more, check out Michael’s recent book The American Dream Is Not Dead: (But Populism Could Kill It).