Maximum employment: what we know (and don’t know) about the labor market
Developing issues in the labor market are clouding the outlook for both the unemployment rate and the natural rate of unemployment over the next few years. Both rates at their current levels clearly argue for providing an accommodative monetary policy, as long as inflation remains consistent with the Federal Open Market Committee’s price stability objective. ; During the next few years, I expect that our economy will continue to grow, that unemployment will decline, and that inflation will average about 2 percent. Monetary policy will need to be adjusted in response to incoming data that may prompt economists to re-evaluate the outlook. In particular, I am closely watching developments in several highly uncertain features of the labor market. These include trends in job matching, unemployment durations, labor market participation, and wages.
Volume (Year): (2011)
Issue (Month): ()
|Contact details of provider:|| Postal: 1455 East 6th St., Cleveland OH 44114|
Web page: http://www.clevelandfed.org/
More information through EDIRC
|Order Information:|| Email: |
When requesting a correction, please mention this item's handle: RePEc:fip:fedcar:y:2011. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Lee Faulhaber)The email address of this maintainer does not seem to be valid anymore. Please ask Lee Faulhaber to update the entry or send us the correct email address
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.