Home About Latest Browse RSS Advanced Search

Federal Reserve Bank of Cleveland
Economic Commentary
What constitutes substantial employment gains in today’s labor market?
Mark E. Schweitzer
Murat Tasci

The Federal Open Market Committee (FOMC) has tied its asset purchases to a “substantial improvement” in labor market conditions. While we don’t speculate on what the FOMC means by substantial improvement, we do explore the level of monthly job gains that would gradually deliver the underlying trend unemployment rate within a reasonable timeframe, under several plausible scenarios. We find that the path of monthly job gains, which is highly dependent on a few key parameters, is likely to be smaller than the path associated with previous recoveries.

Download Full text
Cite this item
Mark E. Schweitzer & Murat Tasci, "What constitutes substantial employment gains in today’s labor market?" , Federal Reserve Bank of Cleveland, Economic Commentary, issue Jun, 2013.
More from this series
JEL Classification:
Subject headings:
Keywords: Labor market ; Federal Open Market Committee
For corrections, contact 4D Library ()
Fed-in-Print is the central catalog of publications within the Federal Reserve System. It is managed and hosted by the Economic Research Division, Federal Reserve Bank of St. Louis.

Privacy Legal