Central Bank Chief Says Job Market Is Improving
The head of the United States central bank says she expects the U.S. job market to continue to improve.
Janet Yellen says the inflation rate should rise close to a yearly rate of 2 percent. That inflation rate would keep prices stable and support the economy, says the central bank, or Federal Reserve System.
Too much inflation and prices rise too high, too fast. Not enough inflation and prices and growth remain flat or decline. Currently, inflation is well below one percent.
Many economists interpret Yellen's comments as a signal that the Federal Reserve might raise the key interest rate on December 16. The Federal Reserve has considered increasing important interest rates for a long time. But it has been cautious about making rate changes, fearing that the economy would react badly.
In a speech to the Economic Club of Washington on Wednesday, Federal Reserve Chairperson Yellen said she expects the effects of a strong U.S. dollar and faltering foreign markets to decrease over time. She cautioned that bad economic reports could still delay any rate increase.
The Bureau of Labor Statistics reported Friday that the economy gained 211,000 jobs in November. Unemployment remained at five percent, its lowest level in seven years.
The Federal Reserve cut an important interest rate to almost zero during the financial crisis of 2007 and 2008. The idea was to make it less costly for businesses to borrow the money needed for new equipment. Less costly loans help to create jobs, and cut unemployment.
Since those economic stimulus efforts, unemployment has fallen from 10 percent to 5 percent. A new report from Georgetown University says under-employment, lacking a job that pays enough, has also been cut sharply, especially for people with college degrees.
Some economic studies published Wednesday may increase the likelihood of a rate increase. ADP is a company that processes 24 million paychecks for companies across the United States. It says employment rose by 217,000 in November.
A separate opinion survey of U.S. workers by the company Gallup shows many more companies say they are hiring than are worrying about layoffs.
CoreLogic is a company that tracks the housing industry. It says its newest studies show a decrease in home sales related to foreclosure or other kinds of distress.
Foreclosures take place when banks reclaim homes because their owners cannot pay their loans. Foreclosures and other problems increased sharply during the financial crisis of 2007 and 2008. A decline in "distressed" home sales shows an improving housing industry.
I'm Mario Ritter.
1.job market 就业形势；就业市场
Faced with a shrinking job market, I turned to manual labor.
2.inflation rate 通货膨胀率
A high inflation rate imports hard times for consumers.
3.financial crisis 金融危机
We suffered huge losses in the financial crisis.
4.college degree 大学学历
Most people are under the illusion that a college degree guarantees success.
1.A separate opinion survey of U.S. workers by the company Gallup shows many more companies say they are hiring than are worrying about layoffs.
worry about 担心；担忧
Don't worry about being late. It's fine.
I'll not worry about it. I'll let nature take its course.
我不再为此事发愁了, 顺其自然吧 。
2.CoreLogic is a company that tracks the housing industry. It says its newest studies show a decrease in home sales related to foreclosure or other kinds of distress.
related to 与...有关
Light industry is closely related to agriculture.
He related to his wife some amusing stories about his employer.
耶伦称，中期通胀水平将回到2% 。美国央行即美联储表示，此次通货膨胀能保持价格稳定的同时支持经济的发展 。
通货膨胀率太高，价格就会上涨过高过快 。通货膨胀率太低，物价和增长就会出现持平或下降 。目前通胀膨胀率远远低于1% 。
经济学家认为耶伦的言论透露出12月16日美联储可能会提高短期利率的信号 。美联储一直在考虑提高利率 。但是由于担心经济会出现负面反应，因此对提高利率一直持谨慎态度 。
周三，在华盛顿经济俱乐部的演讲中，美联储主席耶伦提道，海外经济增长放缓、美元走强的影响会随着时间推移有所改变 。但她强调说，经济势头不好仍然会推迟加息 。
周五，美国劳工统计局报告称，今年11月美国新增的就业岗位为21.1万 。失业率维持在5%左右，是七年以来的最低水平 。
2007至2008年金融危机期间，美联储宣布将基准利率下调至零的水平 。当时的这一举措的目的是降低企业购买新设备所需贷款的成本 。降低贷款成本有助于创造就业机会并改善失业现象 。
由于经济措施的刺激，失业率已经从10%下降到5% 。据乔治城大学的最新报告称，尤其是那些拥有大学学历的人，在他们看来就业机会缺乏，工资待遇下降的现象明显减少了 。
周三公布的几项经济研究报告中显示可能会加息 。ADP是一家处理美国各地的企业高达2400万份工资支票的公司 。该公司称，今年11月增加的就业机会就多达21.7万个 。
CoreLogic是一家研究房地产业的公司 。该公司的最新一项研究表明，因丧失抵押品赎回权或其它被迫类型而销售房屋的数量在持续下降 。
丧失抵押品赎回权是指因房主无力偿还贷款而遭银行强制收回房产所有权 。丧失抵押品赎回权等问题在2007年到2008年金融危机期间急剧增加 。被迫出售房屋的数量减少也就表明房地产业正在改善 。