(Washington) With more than 1.7 job offers for an unemployed person, the level of employment in the United States is currently “unhealthy”, estimated Wednesday the president of the American central bank (Fed), underlining the urgency to get people back into the labor market.
Posted at 3:51 p.m.
“The labor market is very, very tight, at an unhealthy level,” Jerome Powell told a press conference after a two-day meeting.
The offer is plethoric to the point that millions of people leave their jobs every month for another. Because employers have multiplied the tempting offers with bonuses and social benefits to attract and/or retain employees.
Stressing that labor shortages are “pretty much across the economy,” Powell noted that increasing the labor force is also about easing upward pressure. wages which itself feeds general inflation.
“We expect people to return to the labor market, especially since COVID-19 is less and less of a factor” which is holding back the return to employment, he added.
Mr. Powell finally reiterated that price stability was “an essential objective” and a “precondition” for finding a healthier labor market.
“We don’t have a perfect crystal ball for the future,” he commented. But “we are ready to use our tools to restore price stability”.