The Labor Market May Be Tighter than the Level of Employment Suggests

Tyler Atkinson, Jim Dolmas, Marc Giannoni, Robert S. Kaplan and Karel Mertens

Dallas Fed Economics from Federal Reserve Bank of Dallas

Abstract: Nonfarm payroll employment disappointed in April, increasing just 266,000, well below consensus expectations of nearly 1 million new jobs. With payroll employment remaining well below its prior peak, slow job growth would typically suggest weak demand for labor from firms and limited employment opportunities for job seekers. Current conditions in the labor market, however, may be far from typical.

Keywords: Labor; Economic Conditions; COVID-19; Monetary Policy (search for similar items in EconPapers)
Date: 2021-05-27
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