Wednesday, April 1st2.5°C
25326
24864

Fed chair says unemployment rate is not sufficient to measure economy

WASHINGTON - Federal Reserve Chair Janet Yellen says the U.S. economy is "not close to full employment," even as the unemployment rate has dropped a full percentage point over the past 12 months to 6.7 per cent.

The Fed downplayed the importance of the unemployment rate as a sign of the economy's health. Fed officials ended their two-day meeting having eliminated a previous commitment to consider raising short-term interest rates once the unemployment rate fell below 6.5 per cent. The Fed will assess other measures of the economy as well.

The unemployment rate has fallen despite sluggish growth of 1.9 per cent last year, in part because many people have stopped looking for work. Once people stop seeking a job, they're no longer counted as unemployed, and the unemployment rate can fall as a result.

The Canadian Press


Read more Business News

25103


Recent Trending




Today's Market
S&P TSX14902.44-5.95
S&P CDNX680.07-0.26
DJIA17776.12-200.19
Nasdaq4900.88-46.56
S&P 5002067.89-18.35
CDN Dollar0.7870-0.0018
Gold1182.80-0.30
Oil47.26-0.34
Lumber275.30-2.90
Natural Gas2.668+0.028

 
Okanagan Companies
Pacific Safety0.125+0.010
Knighthawk0.010.00
QHR Technologies Inc1.48-0.02
Cantex0.03-0.01
Anavex Life Sciences0.211-0.004
Metalex Ventures0.04+0.00
Russel Metals24.04-0.36
Copper Mountain Mining1.16-0.02
Colorado Resources0.11-0.01
ReliaBrand Inc0.0036-0.0024
Sunrise Resources Ltd0.04-0.01
Mission Ready Services0.25+0.02
Decisive Dividend Corporation1.80+0.02

 





FEATURED Property
21700502677 Westside Road
3 bedrooms 5 baths
$4,495,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Down payment

If you have less than 20% down payment, mortgage insurance is required through Canada Mortgage & Housing (CMHC), Genworth or Canada Guaranty. Homeowners no longer need the minimum 5% down payment ...


CRA Notice of Assessment

Many Canadians rush to file their taxes on time each year and don’t think about it until the next year. One of the most overlooked notices received from the CRA annually is the annual Notice of ...


Medical confidential?

If ICBC asks your doctor for your information you may wonder: Can ICBC ask my doctor for my medical information? Can ICBC request a medical report from my doctor without my consent? What is ICBC entit...

_








Member of BC Press Council


24886