BEYOND THE NUMBERS
Today’s Jobs Report in Pictures
Today’s lackluster employment report shows that despite substantial job market improvements over the last year or so, the Federal Reserve should not yet start raising interest rates to prevent the economy from overheating and producing unacceptable inflation. There’s still too much labor market “slack” (too many people who want to work, or to work more hours) for the Fed to shift its chief concern to the risk of too much inflation.
Click here for my statement with further analysis.