Fed's Lockhart: Situation on labor market not stable yet

FXStreet (Łódź) - Speaking in New Jersey on Thursday Atlanta Fed President Dennis Lockhart didn't touch upon monetary policy but concentrated on the situation on the US labor market, which in his opinion is still far from normal.

He suggested that with the strengthening of the economy the use of part-time workers should be declining, although the preference for such workers will remain.

Lockhart also pointed to the need of workers adapting to the technological developments on the labor market and the progressive automation.
“If you accept as reality the persistence and growth of automation, robotics, production algorithms and digitization in general, I don’t think it’s difficult to imagine what jobs will increasingly require as hard skills and, consequently, what strategic workforce development will entail,” he said.