November 17, 2016 / 2:19 PM / 3 years ago

Less traditional work could hurt U.S. worker security: Fed's Dudley

William Dudley, President of the New York Federal Reserve Bank, speaks at Brooklyn College in the Brooklyn borough of New York, March 7, 2014. REUTERS/Keith Bedford/File Photo

NEW YORK (Reuters) - As “nine-to-five” jobs diminish in the United States, the Federal Reserve will be on alert as to whether the shift is making American workers less secure, an influential Federal Reserve policymaker said on Thursday.

“People are increasingly employed in less traditional work arrangements,” New York Fed President William Dudley said in prepared remarks that did not mention monetary policy.

“We need to understand how this evolution is affecting job security and earnings stability,” he told a conference on the evolution of work. “While these jobs might provide workers with more flexibility, they might also come with increased income volatility and financial vulnerability.”

Reporting by Jonathan Spicer; Editing by Meredith Mazzilli

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