Highlighting the employment scenario o f the US, Warsh said, Labour markets are quite stable. The jobless rate, at 4.1 percent, ‘remains low by historical standards and has not changed much for a couple of years. Unemployment claims, on a four-week average—an empirically robust real-time indicator—are near their lowest level in decades.”
He added, “the relatively low turnover in today’s labour market is partly a result of the significant rematching between employers and employees that happened at scale in the post-pandemic environment.”
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