Comment on Weak job market creates uncertainty, Yellen tells conference

Weak job market creates uncertainty, Yellen tells conference

Though the unemployment rate has steadily dropped, Yellen suggested that other gauges of the job market have become harder to assess and may reflect persistent weakness. In her keynote address, Yellen suggested that pay gains for U.S. workers, which have been sluggish since the recession ended five years ago, could rise faster without necessarily igniting inflation. Related to this year's conference theme of "Re-evaluating Labor Market Dynamics," Yellen's speech addressed the difficulty the Fed faces in trying to determine the relative health of the job market given the damage caused by the 2007-09 recession. Paul Dales, senior U.S.

 

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