Fed's Bullard wants more research into what drives labour market participation
St Louis Fed president James Bullard yesterday called for more detailed research into what determines the level of a household's participation in the labour market, in a speech delivered to the Exchequer Club in Washington, DC.
Bullard noted that the labour force participation rate has "suddenly become a salient topic" since it experienced sharp declines following the financial crisis and recession of 2007–09, and outlined two basic views of why that decline happened.
Under the "bad omen" view
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