Janet Yellen and her wicked smart team at the FOMC always consider tons of economic data in determining Fed policy. One figure they check in closely on is the labor force participation rate. At 62.8% currently, the labor force participation rate is at its lowest level since 1978. Clearly the labor market is improving, that is for some sectors of the economy. In many sectors, however, there are labor shortages, driven by a lack of skilled workers. From a shortage in clowns to fewer truck drivers coming into the fold, the economic recovery is not all it's cracked up to be. Brian Sozzi, CEO of Belus Capital Advisors and Analyst for TheStreet, shares the details on the labor shortages that Janet Yellen needs to know about.
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