Labour market essential component of recovery: NY Fed’s Tracy
Joseph Tracy, an executive vice-president of the New York Federal Reserve, on Friday said a key factor in the shape of the recovery in the United States in 2011 will be the degree of improvement in the labour market.
"The Great Recession eliminated an entire decade's worth of job growth. Improved job growth is essential to generating the increase in disposable income that will support continued consumption growth which is so important for overall economic growth," Tracy said.
Tracy said 7.4m
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