Friday, September 5, 2014

Employment growth still slow

For those still in doubt on whether the Fed should or should not raise interest rates, the news today send a clear message. Only 142K jobs created in August, and unemployment steady at 6.1%. BLS report here. Graph below shows monthly change in non-farm employment.
Employment, as noted before, is above the pre-recession level, but not by much, and given the growth of population, it's not surprising that the labor market is not doing particularly well. So inflation hawks have clearly misplaced expectations.

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