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Janet Yellen is getting the wrong message from a stubborn soft spot in the job market

“But black and Hispanic participation have shown distinct gains over the last couple of years, as the labour market tightened further” writes Pedro Nicolaci Da for However, a recent rise in the participation rates of black and Hispanic workers, who are disproportionately hurt during economic downturns, suggests Fed officials are wrong.Published in 2014, it claimed that “much — but not all — of the decline in the labour force participation rate since 2007 is structural in nature.A shrunken US workforce, now close to its smallest size since the 1970s, is at the center of the debate over just how strong the labour market is.

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