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OverviewAlthough the recovery of the labor market from the deep recession following the financial crisis was frustratingly slow for quite a long time, progress has been more rapid of late. The unemployment rate has fallen markedly over the past few years and now stands at 5.5 percent, down from 10 percent at its peak. Payroll gains have averaged 275,000 per month over the past year, well above the pace needed to sustain further declines in the unemployment rate. Of course, we still have some way to go to reach our maximum employment goal. The unemployment rate has not yet declined to the 5.0 to 5.2 percent range that most FOMC participants now consider to be normal in the longer run. Involuntary part-time employment remains high by historical standards. Labor force participation is still somewhat lower than I would expect after accounting for demographic trends.1 And wage growth continues to be quite subdued. But I think we can all agree that the recovery in the labor market has been substantial. Full Product DetailsAuthor: Board of Governors of the Federal ReservPublisher: Createspace Independent Publishing Platform Imprint: Createspace Independent Publishing Platform Dimensions: Width: 21.60cm , Height: 0.10cm , Length: 27.90cm Weight: 0.082kg ISBN: 9781511645362ISBN 10: 1511645369 Pages: 24 Publication Date: 09 April 2015 Audience: General/trade , General Format: Paperback Publisher's Status: Active Availability: In stock We have confirmation that this item is in stock with the supplier. It will be ordered in for you and dispatched immediately. Table of ContentsReviewsAuthor InformationTab Content 6Author Website:Countries AvailableAll regions |