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Showing blog posts tagged with unemployment

The Economy Adds 227,000 Jobs in January, and Unemployment Little Changed at 4.8%

The Economy Adds 227,000 Jobs in January, and Unemployment Little Changed at 4.8%

The U.S. economy added 227,000 jobs in January in the last employment report of the the Barack Obama administration. Unemployment was little changed at 4.8%, according to figures released this morning by the U.S. Bureau of Labor Statistics. President Donald Trump is inheriting a relatively strong economy based on years of work that Barack Obama and his administration did to bring us out of the horrible recession brought on, in part, because of George W. Bush-era deregulation and weak enforcement. Obama inherited a failing economy, with 589,000 jobs lost in January 2009 and an unemployment rate in February 2009 of 7.6%. Trump, on the other hand, is inheriting a much stronger jobs market, with 227,000 jobs added in January 2017 and an unemploymet rate of 4.8%. Trump's challenge is to continue the pattern of job growth and rising wages. The administration needs to create policies benefiting working people so the recovery continues.

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The Economy Adds 178,000 Jobs in November, and Unemployment Down to 4.6%

The Economy Adds 178,000 Jobs in November, and Unemployment Down to 4.6%

The U.S. economy added 178,000 jobs in November and unemployment was down to 4.6%, according to figures released this morning by the U.S. Bureau of Labor Statistics. This continues the recovery of the labor market at a tempered rate. With the report that wage growth moderated in November, it means the Federal Reserve’s Open Market Committee should continue to let the economy grow at this rate and not raise interest rates.

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The Federal Reserve and Black Unemployment

The Federal Reserve and Black Unemployment

The Federal Reserve Open Market Committee (FOMC) that determines U.S. monetary policy met in July.  Its job is to weigh the state of the American economy, both the labor market and inflationary pressures to set policy.  In an interesting note, its discussion of the labor market explicitly noted the condition of the African American and Hispanic unemployment rates.  More than just an aside, reflecting on the status of June’s labor market the minutes of the meeting show the following note:

“The unemployment rates for African Americans and for Hispanics stayed above the rate for whites, al­though the differentials in jobless rates across the different groups were similar to those before the most recent recession.”

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