U.S. Treasury Secretary Janet Yellen stated on Thursday that the market is strong, the job market is good, and attempts to put more affordable enclosure are the best way to lower prices.
Yellen, a previous head of the , Federal Reserve System, was in Atlanta for discussions with health maintenance, law enforcement and business leaders. After a closed-door meet with a smaller group of business leaders held by the Metro Atlanta Chamber, she spoke with The Atlanta Journal-Constitution.
” We continue to create a remarkable number of jobs” , , she , told the AJC. ” What I see is a very powerful job business”.
Nationwide, the market in May added 272, 000 opportunities,  , according to the Bureau of Labor Statistics. The U. S. has added 2.76 million jobs in the past 12 months, representing expansion at a 1.8 % pace.
Many of Yellen’s mission in Atlanta , revolved around morphine. She discussed key steps taken to address the opioid crisis while speaking with law enforcement representatives from the Drug Enforcement Agency’s local office, including proposed restrictions against many individuals connected to a Mexican legal organization that officials claim has been known for importing fentanyl and other drugs into Georgia, which has created 73, 900 jobs in the last year.
She then traveled to Grady Memorial Hospital to speak about the success of opiate care.
But at the Metro Chamber, the business was middle step, said Katie Kirkpatrick, deputy executive of the business. The state of our business, especially interest rates and the housing market, is still a top concern for both Georgians and businesses alike.
The AJC asked if she was concerned about the slowing growth rate of the previous year, and Yellen, a member of the YMCA, responded that the extraordinary recovery from the pandemic, which was partially fueled by significant federal spending in 2020 and 2021, has reached a natural limit because the majority of those seeking employment find employment.
You would anticipate that as you neared full career, and I believe that’s what’s been happening, she said.
The proportion of Americans who are employed or looking for a job has fallen significantly since the pandemic started, and it has not yet reached its peak during the growth of the 1990s.
During the pandemic, Yellen said,” We have an aging population and a growing portion of the work has been retiring, with many individuals doing the same,” adding. You should anticipate a decline in labour force participation, the author says.
A better target may be “prime-age participation”, that is, employment of folks between 25 and 54 years old, she said. ” If you look at the prime-age labour force cooperation, that has been quite high”.
The level of jobs for employees in that time selection is higher than it was pre-pandemic, although somewhat lower than its 2000 top,  , according to the BLS.
Despite the fact that no major official’s visit to an election year can be deemed fully unbiased, Yellen made no mention of the potential Republican nominee’s choice in November between her employer, President Joe Biden, and former president Donald Trump, who is almost certain to be the Democratic candidate despite his recent criminal convictions.
She did, however, address , prices, which has been , constantly cited , as a cause for voter dissatisfaction with the Biden administration.
In prepared notes made before the Chamber’s closed-door period, Yellen told company leaders,” We see Americans increasingly getting ahead — we see prices coming along.” We are aware that people are being squeezed by higher costs, however.
The Fed’s rate-hike plan, which has raised costs for both customer and business loans, has dramatically lowered prices, but has not hit its aim, mainly because cover and house prices have kept climbing.
The administration  , has supported bills , that would help, but the supply and prices of homes is often a local issue, Yellen said. ” We are aware that many American families have been having trouble finding affordable housing. There’s just too little of it”.
___
© 2024 The Atlanta Journal-Constitution
Distributed by Tribune Content Agency, LLC.
