Tags: chicago | federal reserve | jobs | unemployment

Chicago Fed Finds 80,000 Jobs Enough to Steady Unemployment

Thursday, 06 Jun 2013 10:08 AM

Payroll gains averaging 80,000 a month will be enough to keep the U.S. jobless rate steady over the next couple of years as aging baby boomers retire and population growth slows, according to research by economists at the Federal Reserve Bank of Chicago.

Those demographic trends will probably continue, pushing the figure down to about 35,000 jobs a month in the second half of this decade, the report said.

“These estimates are lower than the conventional wisdom that 100,000 to 150,000 jobs per month are needed to lower the unemployment rate,” Daniel Aaronson, director of microeconomic research at the Chicago Fed, and Scott Brave, a senior economist, wrote in a report on the central bank’s website dated July 2013.

“This has ramifications for the potential speed at which the economy can grow in the future,” the researchers wrote.


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Payroll gains averaging 80,000 a month will be enough to keep the U.S. jobless rate steady over the next couple of years as aging baby boomers retire and population growth slows, according to research by economists at the Federal Reserve Bank of Chicago.
chicago,federal reserve,jobs,unemployment
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2013-08-06
Thursday, 06 Jun 2013 10:08 AM
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