Friday, September 5, 2014

Still Missing: 3.9 Million Prime-Age Jobs



Today's U.S. jobs report, which showed nonfarm payrolls increasing by a meager 142,000 jobs and the unemployment rate falling 0.1 percentage point to 6.1 percent in August, will undoubtedly rekindle a familiar debate: How much more should the Federal Reserve do to put people back to work?



Given the scant evidence of inflationary pressure and the still-woeful state of the job market, it's preferable to err on the side of doing too much.



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