Yellen plumbs state of job market
CHELSEA Mass (Reuters) A third of the 37,000 people Canada Goose Outlet in this dense township near Boston didn graduate from high school, nearly half were born outside the United States and few own their own homes. economy, quizzing town officials and residents at a non profit organization about the state of affairs in one working class neighborhood.
you see changes in job availability? Do canadian goose jacket you see any strengthening in job availability?, Yellen asked in canada goose replica her clipped Brooklyn accent as she toured Connect, a canada goose outlet store locations consortium of groups that provide housing, canada goose education and job services.
She heard tales of layoffs and lost savings, calling the experiences of people like 26 year old Jose Iraheta She heard Canada Goose sale the small triumph of Dimple Rana, 34, laid off in 2009, but now canada goose store working for the nearby city of Revere and pursuing a master degree.
Yellen, who did not comment about monetary policy or the outlook for the economy, visited Chelsea as financial markets labored through a free fall this week amid doubts about global economic performance. growth yet, canada goose deals but it could, and in doing so intensify canada goose outlet toronto factory Yellen conviction that the recovery still is not complete, and that too many potential workers remain marginalized. central bank, Yellen has identified tepid wage officialcanadagoosesoutlet Canada Goose Jackets growth as a problem.
She has also helped inject debate over canada goose clearance issues like income inequality into the mainstream. She cheap Canada Goose has framed it as a long term threat: that the erosion of middle 2018 canada goose outlet class buy canada goose jacket jobs could cheap Canada Goose Jackets damage the country economic potential.
To that extent, towns like Chelsea could be her bellwether. If people there are getting full time jobs and raises, she can be more confident the recovery has reached full steam.
There may be a limit buy canada goose jacket cheap on how much she can do. Canada Goose Parka Central bank policy can stimulate consumer borrowing and business investment, but it can address how that economic activity gets divided, or how new jobs are split between the upper, middle and lower income ranges.
The one weapon Yellen can deploy is to keep financial conditions loose until she is convinced as many people as Canada Goose Online possible are back at work and that wages Canada Goose Coats On Sale are rising.
She will address a Boston Fed conference on canada goose coats income inequality on Friday.
Marissa Guananja, director of canada goose coats on sale the non profit Yellen visited, said she understands the Fed chair big picture job doesn cover some issues she feels would canada goose clearance sale make a difference to her clients, like a boost in the minimum wage.
But it helps to know she is engaged.
am not clear how much the Fed can do, but I Canada Goose online think it is important that the Fed is talking about it, she said. they have a conference on income inequality is pretty powerful.
Reporting by Tim McLaughlin in Chelsea, Mass.; Writing by canada goose black friday sale Howard Schneider; Editing by Tim Ahmann and Meredith Mazzilli.