Treasury Secretary Janet Yellen Highlights Strength of U.S. Labor Market Following Jobs Report
U.S. Treasury Secretary Janet Yellen expressed confidence in the stability of the American labor market following the release of the latest jobs report, which showed strong performance in the job sector. According to her, the data confirms that the labor market in the country is "quite healthy."
The reports contain key metrics indicating that the unemployment rate remains low, and the pace of job creation is sustained. These results are seen as a positive indicator of the economy's condition, highlighting the labor market's capacity to effectively respond to challenges it faces.
Yellen noted that such results could positively influence government economic policy and possible actions from the Federal Reserve. The Secretary also mentioned the need to continue efforts to improve working conditions to maintain current achievements and prepare the economy for future challenges.
According to the report, over 300,000 new jobs were created in August, significantly exceeding experts’ forecasts. The unemployment rate remained at 3.5%, indicating that employers are actively seeking workers.
Overall, Yellen and other economists point out that as long as the positive momentum in the labor market continues, there are grounds for optimism regarding the overall economic development. However, they also caution the need to monitor potential risks related to inflation and global economic changes.
