Fed's Barkin: Employment Figures Indicate Stability, Inflation Remains a Concern

Richmond Fed President Comments on Steady Job Market

Tom Barkin, President of the Richmond Federal Reserve, described the most recent employment figures as evidence of steady, moderate job creation amid a period of restrained hiring. His remarks came after the Bureau of Labor Statistics announced that 50,000 new jobs were added in the past month, while the unemployment rate dipped to 4.4%.

Barkin noted, "We're seeing a continued equilibrium between modest job growth and a similarly modest increase in the labor supply, which is a positive sign." He shared these insights with reporters on Friday.

Business Outlook and Productivity: Barkin also pointed out that the current labor market reflects ongoing business uncertainty, while productivity improvements remain a key factor.