Mar
18

Understanding Unemployment

With unemployment at 6.7%, close to the 6.5% level at which the Fed has said it would raise short-term rates, the Fed must change its short-term interest rate guidance. The Fed is wrestling with how much slack exists in labor markets and if the swollen ranks of the long-term unemployed will keep wages down or if wages will soon rise because the number of short-term unemployed is back to normal.

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