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The Fed has a dual mandate to control inflation as well as unemployment, unlike other central banks.
Investor and columnist Barry Ritholtz says workers are gaining leverage in relations with management, which could lift wages.
Four states have now shut off the extra $300 per week in federal unemployment benefits.
Black workers and those without college degrees were forced out of jobs at the highest rates during the pandemic.
Some unemployed workers may need new skills and training for jobs that are in high demand.
The pace of hiring picked up in May, with U.S. employers adding 559,000 jobs, but it missed economists' forecasts.