It is likely that the participation rate will rebound slightly in the next few months, but the big picture is that population ageing and the crackdown on immigration will continue to hold back labour...

The tameness of the price data for July means we are dropping our call for the Fed to raise interest rates in September. Nonetheless, we are not convinced that the conditions are in place for core...

We would not read too much into the fall in payrolls in July, but the lack of wage pressures clearly reduces the need for the Fed to raise rates soon unless the price data next week deliver a big...

Federal Reserve Chair Kevin Warsh’s muddled July FOMC press conference and the resulting gyrations in financial markets dominated this week’s headlines, diverting attention from data suggesting that...