HomeEconomy10. October 2021, 8:02 p.m.
Federal Reserve: the US labor market is unstable
After the surprisingly weak recovery in the US labor market, one US central banker sees no reason to exaggerate. “It’s too early to say it’s going to be blocked,” said San Francisco Federal Reserve Chairman Mary Daly, CBS broadcaster. “But of course we see how the pain from Covid and the pain from the Delta variant is affecting the job market.” So you expect ups and downs in the job market. The recovery in the US labor market is stalling and offers the Fed no guidance on how to exit crisis mode. The government announced Friday that only 194,000 new jobs have been created outside of agriculture. Economists polled by Reuters were expecting 500,000. A sustained recovery in the labor market is a prerequisite for the Fed to lower its massive economic stimulus measures.
© SZ of 11/10/2021 / Reuters