Fed official downbeat on US labour market
US labour market participation in stark contrast to advanced-economy counterparts, Daly warns
US labour market participation is strikingly below its advanced-economy counterparts, San Francisco Fed president Mary Daly warned in a speech on November 12.
Daly raised concerns that despite labour market signals “all flashing green”, US labour force participation has followed a contrasting trend to that seen in the UK, Germany and Canada. The labour participation in these counterparts is now “well above” rates in the US.
The US participation rate currently sits at 62.9%, down from a high of
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