Fed Daly: Fed Should Focus on Employment Rate, Not Job Numbers

Odaily News: The economy no longer needs to create as many jobs as before to maintain the same proportion of the population employed. In this environment, monthly hiring data is no longer the most accurate reflection of the labor market's health. The unemployment rate might be a better measure. She stated: "Ratios and indicators such as the employment-to-population ratio, unemployment rate, quit rate, or hiring rate can reflect changes in the size of the labor force, thereby providing a clearer picture of the labor market's health." (Jin10)