EconPapers    
Economics at your fingertips  
 

Post-Pandemic Labor Shortages Have Limited the Effect of Monetary Policy on the Labor Market

Elior Cohen

Economic Bulletin, 2023, 4

Abstract: The labor market has so far shown remarkable resilience to the Federal Reserve’s recent monetary policy tightening. Severe labor shortages in the post-pandemic era have led many employers to hold on to workers and hire less-skilled workers—even though they expect demand for their goods or services to weaken in the future. As a result, unemployment remains low, and labor productivity has declined.

Keywords: labor market; monetary policy; unemployment rate; labor productivity (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.kansascityfed.org/Economic%20Bulletin/ ... letin23Cohen0922.pdf Full Text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedkeb:96953

Ordering information: This journal article can be ordered from

Access Statistics for this article

More articles in Economic Bulletin from Federal Reserve Bank of Kansas City Contact information at EDIRC.
Bibliographic data for series maintained by Zach Kastens ().

 
Page updated 2025-03-30
Handle: RePEc:fip:fedkeb:96953