In a statement, the FOMC said, «On balance, a range
of labor market indicators suggests that underutilization of labor resources diminished somewhat.
The Committee expects that, with appropriate policy accommodation, economic activity will expand at a moderate pace,
with labor market indicators moving toward levels the Committee judges consistent with its dual mandate.
BlackRock's «Yellen Index» (our gauge of 10
key labor market indicators closely followed by the Fed) has picked up, but it's well below the level before the Fed's December rate rise, as the chart above shows.
One, the quits rate fell during the 2007 - 09 recession and has been slower to recover than
other labor market indicators because workers lacked confidence to leave their jobs for greener pastures.
As
Chinese labor market indicators are positive, there is no need for another fiscal stimulus; and they will wait till after the National Congress for any decision on this powerful tool.
Our analysis shows that wage growth, as estimated by our composite measure of wage pressures, is beginning to accelerate; we also show that
labor market indicators most closely correlated with wage growth, such as the quit rate, continue to improve.
As a result, the FOMC ain't moving rates up, absent improvement
in labor market indicators, much higher inflation, or a US Dollar crisis.
The Committee expects that, with appropriate policy accommodation, economic activity will expand at a moderate pace, with
labor market indicators continuing to move toward levels the Committee judges consistent with its dual mandate.
On balance, a range
of labor market indicators suggests that underutilization of labor resources has diminished since early this year,» the Fed said.
The LMCI is derived from a dynamic factor model that extracts the primary common variation from 19
labor market indicators.
Speaking at Jackson Hole, Fed Chair Janet Yellen stated that 19
labor market indicators the Fed...
A range of
labor market indicators suggests that underutilization of labor resources continues to diminish.
The key variables on Fed Policy are capacity utilization,
labor market indicators, inflation trends, and inflation expectations.
The Committee currently expects that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace and
labor market indicators will continue to strengthen.
The Committee currently expects that, with gradual adjustments in the stance of monetary policy, economic activity will expand at a moderate pace and
labor market indicators will strengthen.
The Committee currently expects that, with gradual adjustments in the stance of monetary policy, economic activity will continue to expand at a moderate pace and
labor market indicators will continue to strengthen.
Labor market indicators were mixed but on balance showed further improvement.