Journal Article
Mixed signals: labor markets and monetary policy
Abstract: Since the Great Recession, standard ways of measuring the labor market have given mixed signals about the strength of the U.S. recovery. This has increased the uncertainty around how to interpret job market conditions, which has made calibrating monetary policy to achieve full employment more challenging. Ultimately, policymakers need to make judgments about how much these conflicting indicators reflect cyclical weakness in the job market versus structural factors that would be less easily remedied with monetary policy.
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http://www.frbsf.org/economic-research/publications/economic-letter/2014/december/unemployment-labor-monetary-policy-taylor-rule-job-market/el2014-36.pdf
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Bibliographic Information
Provider: Federal Reserve Bank of San Francisco
Part of Series: FRBSF Economic Letter
Publication Date: 2014
Order Number: 36