US labour markets approaching pre-pandemic state, report finds

Simple rules suggest fed funds rate should be at or below current level, report says

Jerome Powell
Jerome Powell
Federal Reserve

US labour market conditions are similar to those prevailing before the Covid-19 pandemic, the Federal Reserve’s July monetary policy report said.

The Fed report also found that using simple rules indicated that the central bank’s policy rate should be at or below its current level. The labour market moved into better balance over the past year, and job gains and unemployment have remained healthy, it said.

“With cooling labour demand and rising labour supply, the unemployment rate edged up to 4.0%

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account