Inside these posts: Jobless rate

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Fed report: Joblessness cyclical not structural

The current high rate of unemployment in the United States is primarily due to cyclical factors, not structural changes in the economy, according to researchers at the San Francisco Federal Reserve Bank.

The study runs counter to worries among some top Fed policymakers that undesirable upward pressure on wages, and thus inflation, could kick in even when unemployment remains relatively high — a situation that could have implications for U.S. monetary policy. Get the full story »