December 20, 2016    1 minute read

Yellen Congratulates College Grads

   December 20, 2016    1 minute read

Yellen Congratulates College Grads

In her speech on Monday, Federal Reserve Chairwoman Janet Yellen congratulated the graduating class at the University of Baltimore on earning their degrees and also their timing in finishing school. She remarked:

“After years of a slow economic recovery, you are entering the strongest job market in nearly a decade.” She continued to state that college graduates’ annual earnings are, on average, 70% higher than those with only a high-school diploma and compared the gap to only being 20% in 1980 with technology and globalisation being the catalysts of the divergence. However, Yellen did acknowledge that the US economy is growing at a slower rate than in past recoveries and productivity growth “has been disappointing.”

What to watch: US Non Farm Payroll, US Labour Market, US GDP

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