OMAHA, Nebraska (Reuters) - Parts of the U.S. August payroll data contain promising signs for the nation’s labor market, Kansas City Federal Reserve President Esther George said on Friday.
“Hours worked have ticked up, the wage has ticked up a bit. So those are all good signs. And the rate at which jobs are coming out of the private sector (is) enough to absorb population growth in the country,” she told a luncheon event.
“So my hope is that trend continues - over the last 12 months - that’s been a pace that I think is promising,” she said in response to an audience question, after delivering a speech.
Reporting by Alister Bull