Labor market Quotes
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We do have a labor market that's basically on fire.
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Although I expect policy to follow the usual gradualist pattern, the pace of tightening will of necessity respond to evolving economic conditions, particularly the strength of the ongoing recovery in the labor market and developments on the inflation front.
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Quantitatively, outsourcing abroad simply cannot account for much of the recent weakness in the U.S. labor market and does not appear likely to be an .important restraint to further recovery in employment.
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In any given month, a large number of workers are being hired or are leaving their current jobs, illustrating the dynamism of the U.S. labor market.
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Even the slave owner is restricted in his ability to manipulate his labor supply, for he must protect his investment in slaves by feeding them during times when they do not labor. In contrast, capitalist entrepreneurs can hire and fire laborers or very their wages in response to changing circumstances.
