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Showing blog posts tagged with unemployment

The Economy Adds 178,000 Jobs in November, and Unemployment Down to 4.6%

The Economy Adds 178,000 Jobs in November, and Unemployment Down to 4.6%

The U.S. economy added 178,000 jobs in November and unemployment was down to 4.6%, according to figures released this morning by the U.S. Bureau of Labor Statistics. This continues the recovery of the labor market at a tempered rate. With the report that wage growth moderated in November, it means the Federal Reserve’s Open Market Committee should continue to let the economy grow at this rate and not raise interest rates.

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The Federal Reserve and Black Unemployment

The Federal Reserve and Black Unemployment

The Federal Reserve Open Market Committee (FOMC) that determines U.S. monetary policy met in July.  Its job is to weigh the state of the American economy, both the labor market and inflationary pressures to set policy.  In an interesting note, its discussion of the labor market explicitly noted the condition of the African American and Hispanic unemployment rates.  More than just an aside, reflecting on the status of June’s labor market the minutes of the meeting show the following note:

“The unemployment rates for African Americans and for Hispanics stayed above the rate for whites, al­though the differentials in jobless rates across the different groups were similar to those before the most recent recession.”

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