Yellen Says Pockets of ‘Persistently High’ Unemployment Remain
- Fed chair says labor market has improved ‘substantially’
- Yellen doesn’t speak on monetary policy in Washington speech
Fed Chair Janet Yellen says the U.S. economy is recovering and the job market has improved since the recession, yet pockets of persistently high unemployment remain a challenge. (Source: Bloomberg)
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Federal Reserve Chair Janet Yellen said challenges remain in the U.S. labor market, including concentrations of elevated joblessness in poor and minority communities, as she pushed for better education and training so the economy works for all Americans.
“While the economy overall is recovering and the job market has improved substantially since the recession, pockets of persistently high unemployment, as well as other challenges, remain,” she said in the text of a speech Tuesday in Washington.