Discouraged workers aren’t so discouraged anymore

Discouraged American workers are showing signs of returning to the labor market, a signal that the Federal Reserve could hold off on interest rate hikes this year and that President Donald Trump may have something more to boast about as he heads toward his re-election campaign.

“Those who thought that the job market was at full capacity a year or more ago, and a lot of prominent people thought that, I think the evidence is they were wrong,” Jared Bernstein, former chief economist to Vice President Joe Biden, said on the latest edition of the POLITICO Money podcast, which examines the recent rise in the labor force participation rate to 63.1 percent last month.

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Shelly Jo Jacobs

Author: Shelly Jo Jacobs