Relevant:
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- Recession fears ease as 280,000 jobs created in May
- Janet Yellen is finding herself increasingly fenced in
- Record 95.9 Million Americans Are No Longer In The Labor Force
2014-08-22 — bloomberg.com
Because measuring slack is an inexact science, the debate on the committee is likely to intensify if labor markets continue to improve... Other gauges Yellen watches continue to show weakness. The labor force participation rate, at 62.9 percent last month, is near the lowest since 1978. Average hourly earnings are 2 percent higher than a year ago, barely outpacing the 1.6 percent annual gain in the Fed's main inflation gauge.
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