Posted: Mar 19, 2014 7:49 PM by Michael Marsh
Updated: Mar 19, 2014 7:49 PM
Source: Associated Press
WASHINGTON- The Chairman of the Federal Reserve says the job market is not where its supposed to be, even though the unemployment rate dropped a full percentage point over the last year to 6.7%. Janet Yellen says the economy is "not close to full employment" as the Fed ended a two-day meeting. The unemployment rate has fallen despite sluggish growth in the economy, in part because many people stopped looking for a job. Once they stop looking, they are no longer counted as unemployed.