John Locke Foundation’s Dr. Roy Cordato writes:

Much of the economic news lately is focusing on the fact that labor is becoming a scarce commodity. Each quarter when labor and job statistics are released, we hear how it is becoming more and more difficult for employers to find qualified workers. We have been told that for the first time in 20 yearsthe number of jobs available is outpacing the number of workers seeking employment. Indeed, the unemployment rate itself is at a 50 year low of 3.7 percent. And then, immediately we are told that there is a cloud to this silver lining. All this seemingly good news could give rise to inflation.

Dr. Cordato explains why this talk of inflation is a myth. Read it here.