It is not a bad time to talk about jobs, says Jim Green, a former chief economist for President Bill Clinton and the director of the U.K.’s Office for Budget Responsibility.
But to actually get the U!
to create jobs, Mr. Green said, we need to keep up the momentum.
That will be hard to do, but we have to be careful not to get too ahead of ourselves.
Mr. Greenspan, now at the London School of Economics, said he still believes that a massive boost to the U s economy is possible, and that a recovery will come if the economy starts to pick up, or if unemployment falls.
The biggest challenge is how to get the economy moving again, he said.
And even that will be difficult.
A strong labor market is essential, but if the labor market does not improve and the economy continues to slow down, there is little hope of creating a more sustainable economy.
The jobs crunch will have to wait for another recession.
The latest jobs report, from the Bureau of Labor Statistics on Friday, found that the labor force participation rate, the share of the working-age population that is employed or looking for work, fell in February to 64.9% from 64.7%.
This is not good news.
The jobless rate fell to 4.9%, the lowest level since January, while the unemployment rate fell by 2.3 percentage points to 4% from 5.9%.
The economy was growing by a meager 0.5% in the first quarter, and economists say that will not last.
In a report issued Friday, the International Monetary Fund estimated that the economy will shrink by 0.2% in 2018, but the jobless will increase by 2%.
The report says the labor-force participation rate fell slightly to 62.9 percent, its lowest level in four years.
While the number of unemployed declined, it also fell more rapidly than it did a year ago, a result of the labor shortage.
And there were fewer jobless than in February, the first time since the start of the Great Recession that the number was lower.
This is a good sign that the unemployment market has finally picked up, said Jeffrey Kosslyn, chief economist at BMO Capital Markets.
The report also found that employers hired more workers than they lost in January.
But the job growth rate was unchanged from the year before, and it also was lower than it was a year earlier.
That suggests the labor supply is becoming tight, and companies will be reluctant to hire more people, even as the unemployment situation remains tight.
It also suggests that the economic recovery will take longer than it seems at the moment.
The Labor Department said Friday that the median weekly earnings for full-time employees fell 1.4% in February.
That is the smallest monthly decline since June 2016.
The number of hours worked fell in March, to 2,879, the smallest weekly drop since May of last year.
The headline unemployment rate, which measures the percentage of the population unemployed, fell to 5.6% from 6.1%.
That is also the lowest since May.
It is too early to say what the impact of the weak labor market will be, but it may be that the job market is beginning to slow, and employers are reluctant to keep hiring workers.
And employers will not be able to find the workers they need to maintain growth, so the job losses may become even worse.
The economic recovery is in danger of slowing as more Americans start to look for work.
The U.N. Office for Disaster Risk Reduction reported Friday that more than a quarter of U.s. households reported having lost at least one job in the past 12 months, and nearly three-quarters of the households were experiencing layoffs.
The unemployment rate for people ages 16 to 64 fell to 3.5%, its lowest since March of this year.
This was worse than the unemployment rates for older workers and younger workers.
It was also slightly better than the 3.9 percentage point drop in the unemployment number for those ages 55 to 64 in February of this “inflationary crisis” as measured by the U-6 index, which excludes food and energy.
That was the highest inflation index in a year.
Many economists see the U in the near future as a little better off than it is now, because of the weakness in the labor markets.
The Fed is expected to release its next quarterly report on Thursday.
But even if the Fed releases another report that shows a modest increase in economic activity in the coming months, there will be still be some work to do.
Mr Green, the former Clinton chief economist, said that there will likely be more unemployment in the months ahead.
“There will be a lot of people out there looking for jobs, and they are going to have to find them,” Mr. Greanspan said.
The next jobs report should come as no surprise.
The administration announced earlier this month that the government is