The labor market is doing great, said Federal Reserve Chair Janet Yellen.
“The strong labor market is attracting people from outside the labor force back into employment,” she said in her press conference following Wednesday’s FOMC interest rate decision.
In fact, Yellen pointed to the strong labor market as evidence a Fed rate hike is looking more likely by the end of the year.
It’s great news right?
Actually, not so much, argues Omar Scharif in a Societe Generale research note on sent out to clients on Thursday.
The increase in the labor force participation rate isn’t because of new entrants into the read more >>>