Bloomberg Surveillance · Thursday, July 9, 2026
Richardson describes the labor market as "quite still" and lacking dynamism, with limited opportunities for those on the outside. This is partly attributed to demographics and low turnover, which reduce the churn and opening of new positions, making it difficult for new entrants to find their footing.
“I think it's quite still. There. And we've talked about this before. There's just not a lot going on. There's not a lot of dynamism. Some of this is because of demographics. People are leaving early.”
“Maybe it's just that they just never found their footing in the slavery market because the turnover is so low, those opportunities are so uneven. They're not opening up in the same case, and they've given up.”
“If you pack on the other data, what we see is a labor market that's not very inviting to those on the outside.”