(Bloomberg) -- Former Treasury Secretary Lawrence Summers says on Twitter the “JOLTS report shows a labor market that is cooling very slowly and will likely continue to be extraordinarily tight for some months to come.”

He adds that an unemployment rate around 2% would be consistent with the vacancies and quits rate. He doubts inflation will fall significantly given the tight labor market.

Larry Summers is a paid contributor to Bloomberg TV.

Read More: Larry Summers: ‘Very Much in An Environment of Two Sided Risk’, Summers Sees Risk Fed Needs to Hike Past 6% to Quell Inflation

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