Yellen Says Labor Market is Healthy Amid Unemployment Rise
The U.S. Secretary of the Treasury Janet Yellen shared her thoughts on the state of the labor market in the country, despite the recent increase in the unemployment rate. According to Yellen, the labor market is showing healthy characteristics, which is a positive signal for the overall economy. She noted that although the unemployment rate has risen, this does not warrant panic, as other indicators of economic health remain stable.
Yellen explained that the labor market continues to support employment and create new jobs due to the steady demand for workers across various industries. Her statements come amid recent data indicating a rise in unemployment to 3.8%. However, she emphasized that the unemployment rate remains below historical norms, indicating that the economy is still capable of maintaining employment levels.
Yellen also added that it is essential to pay attention not only to the unemployment rate but also to the quality of jobs, as many employers continue to seek new employees this year. The uncertainty associated with changing economic conditions may have short-term impacts on the labor market, but in the long run, Yellen remains optimistic about the sustainable recovery of the U.S. economy.
Thus, despite current fluctuations in the labor market, Yellen urged calm and confidence that the economy will cope with challenges and return to more familiar conditions in the future.
