1  All of my remarks today represent my own views, which do not necessarily represent those of the Federal Reserve Board, the Federal Open Market Committee, or the Financial Stability Board. I would like to thank Courtney Demartini, Etienne Gagnon, Michael Hsu, and Laura Lipscomb for their assistance in preparing these remarks. 2 This subject is one on which I have previously spoken.
See Quarles (2018). -2The labor market continues to perform remarkably well, providing a key pillar of support for the rest of the economy. The unemployment rate is at a 50-year low. The labor force participation rate has been steady for some time now despite continued predictions for its decline premised on an aging population moving into retirement.