Thomas Barkin, president of the Federal Reserve Bank of Richmond, has stated that the unemployment rate is his primary indicator for assessing the health of the US labor market. This rate has oscillated between 4.1% and 4.3% for approximately one year, a range he describes as stable. Job creation remains weak, however, with only 50,000 positions added in December 2025 and an average of 29,000 over three months. As a member of the Federal Open Market Committee, Barkin sees this stability in the unemployment rate as a signal that the Fed’s employment mandate is not in the red.
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