Barr: US labour market ‘especially vulnerable to negative shocks’
Fed governor says FOMC likely to continue holding rates for the time being
The tenuous state of balance in the US labour market makes it “especially vulnerable to negative shocks”, Federal Reserve governor Michael Barr has said.
In a speech on February 17 at the New York Association for Business Economics, Barr said unemployment was at “what many estimate is its long-run level, when the economy is in balance”. However, job creation and labour force growth had been almost zero over the past year.
“With very low levels of job creation and also a low firing rate, there
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