Fed’s Fischer: Labor market close to full employment

Federal Reserve (Fed) Vice Chairman Stanley Fischer crossed the wires late-Friday, via Reuters, and commented on the US jobs outlook, responding to the latest NFP report.

Key Headlines:

The labor market has, by and large, had a pretty good year

Labor market close to full employment; 65,000-115,000 new jobs likely needed per month to maintain full employment

Understanding of productivity slowdown will be tested as approach/exceeds inflation & employment targets

Stability of jobless rate reflects possibly temporary pick-up in labor force participation