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Fed's Powell: 4.2% Unemployment Rate Is Not a Bad Number
BlockBeats News, August 15th, Federal Reserve's Bostic stated that a 4.2% unemployment rate is not a bad number. The unemployment rate has been very stable, with slowing job growth matching slowing labor force growth.
The initial employment data is more surprising than the revised data. Businesses have been restraining hiring, so even under cost pressures, there may not be much room for layoffs. Given wage growth and employment, households' underlying momentum still seems strong. (FXStreet)
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