Economics
Yellen Says Fight Against Inequality Starts With Full Employment
- Wages are rising for least-skilled, most vulnerable workers
- Safeguards against another financial crisis must stay in place
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Keeping the U.S. economy near full employment is lifting pay for unskilled workers and helping ease inequality in the country, former Federal Reserve Chair Janet Yellen said.
It’s important to see the benefits that an economy operating at full employment confers to low-wage workers who are typically the most vulnerable, Yellen said at the Bloomberg New Economy Forum in Singapore on Tuesday. She cited examples such as unemployment for black Americans declining since peaking in 2010 and companies investing in training workers as hiring becomes more difficult.