SINGAPORE: Keeping the US economy near full employment is lifting pay for unskilled workers and helping ease inequality in the country, former Federal Reserve chairman Janet Yellen (pic) 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 yesterday. 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.
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