Fed's Evans: Unemployment benefits could have partly affected April employment

Eren Sengezer FXStreet

Chicago Federal Reserve Bank President Charles Evans said on Monday that unemployment benefits could have partly affected April employment along with schools and child care, as reported by Reuters.

Additional takeaways

"Optimistic that we're going to get back to strong employment numbers."

"Unemployment insurance benefits are generous, helpful for people who are looking at jobs with high risk."

"People are nervous still but it's going to get better with vaccine rollout."

"Looking for strong growth in the second half of 2021."

"Expecting to see several months of strong employment growth, it's going t take time."

"Workers may be thinking about investing in skills that can lead to long-term job opportunities."

"Issues with vaccination and mask-wearing could extend how long the virus is out there."

"Fed wants to make sure monetary policy doesn't get in the way of a vibrant labour market."

"Fed wants to see month after month of good employment reports before approaching substantial further progress."

Market reaction

The US Dollar Index largely ignored these comments and was last seen losing 0.05% on a daily basis at 90.17.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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