U.S. Economic News
October 7, 2020
U.S. News
The Financial Times reports that labor markets across the developed world are likely much weaker than official unemployment metrics suggest. The pandemic has contributed to high levels of ‘hidden unemployment’ by weighing on labor force participation, a trend that may not persist through the fall, however, as the return of children to school gives more parents the opportunity to actively seek work. FT
According to the Wall Street Journal, minutes from the latest Fed policy meeting – to be released later this afternoon – should provide some details on the central bank’s current economic outlook and the plan for implementing its new policy framework. Fed officials projected a somewhat stronger economic rebound and employment recovery at last month’s meeting compared to their projections in June, but the outlook may have relied considerably on now questionable expectations of additional federal stimulus spending. WSJ