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Powell Labor Market Conditions Continued To Improve

FED

Conditions in the labor market "continued to improve"; "demand for workers remains strong". "Pace of improvement slowed with the rise in Covid cases".

  • Notes Aug-Sep avg gain of 280k jobs vs 1mn in 2 previous months.
  • Notes the"shortfall in employment especially as the labor market remains subdued." Some "reflects aging and retirements", but "participation for prime-aged individuals also remains well below prepandemic levels". "Difficulty filling job openings. "These impediments should diminish."

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