According to BlockBeats, Samuel Tombs, a macro analyst at Panson, said that the Federal Reserve will soon be concerned about the excess supply of labor and weak wage growth. The increase in job vacancies in the November JOLTS report was unexpected. Tombs pointed out that the resignation rate fell from 2.1% to 1.9%, indicating a larger slowdown in employment cost growth. Average hourly earnings have increased by 0.4% for two consecutive months, which seems to be noise around the slowing trend. Tombs expects average hourly earnings to slow in the December non-farm payrolls data released on Friday.