Econintersect: A Federal Reserve Bank of Kansas City study argues that the labor market’s recovery is now accelerating, but two more years of similar improvement are needed to return conditions to historical averages.
Using a broad set of data, we construct two key measures of labor market conditions that gauge the level of labor market activity and the speed of improvement. Together, these measures show there has been notable improvement, but two more years of similar improvement will be required to return labor market conditions to historical averages.
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Assessing Labor Market Conditions: The level of activity and the speed of improvement by Steven Hansen
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