Yellen View on Slack Job Market Supported by Labor Report
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Federal Reserve Chair Janet Yellen’s view that there’s plenty of room for gains in the labor market was confirmed by yesterday’s jobs report, economists said, bolstering the case for maintaining monetary stimulus.
While the Labor Department report showed employers added more than 200,000 jobs for the sixth straight month in July, there were also indications of fragility. A broad measure of unemployment that includes people working part-time because they can’t find full-time jobs rose, while wages stagnated.