James Orr
March 27, 2018
Job growth in New York City remained solid in 2017 but slowed from the rapid pace of earlier years. While major service sectors continued to add jobs, weaker performance in retail and manufacturing highlights a gradual cooling in the city’s labor market.
In view of realized and expected labor market conditions and inflation, the Federal Reserve FMOC decided to raise the target range for the federal funds rate to 1-1/2 to 1-3/4 percent. The stance of monetary policy remains accommodative, thereby supporting strong labor market conditions and a sustained return to 2
Total non-farm payroll employment increased by 313,000 in February, and the unemployment rate was unchanged at 4.1 percent, the U.S. Bureau of Labor Statistics reported today. Employment rose in construction, retail trade, professional and business services, manufacturing, financial activities, and mining. Read more
It has become a truism to say that the welfare state is under stress from the effects of globalization and migration and thus may not be able to provide the same level of income support that it had provided in the past. Read more
