Federal Reserve's Daly: Fed Should Focus on Employment Rates, Not Jobs Data
BlockBeats News, April 4th, Federal Reserve's Daly stated that the economy no longer needs to create a large number of jobs as before to maintain the same proportion of the population's employment rate. In this environment, monthly hiring data no longer accurately reflects the health of the labor market. The unemployment rate may be a better measure.
She stated: "Ratios and indicators such as the employment-population ratio, the unemployment rate, the quit rate, or the hiring rate can reflect changes in the size of the workforce, thus more clearly reflecting the health of the labor market." (FX678)
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