Washington (AFP)
Unemployment in the United States is at an all-time low, but the picture is far from perfect and the American labor market shows major flaws, noted the chairman of the Federal Reserve, Jerome Powell, on Wednesday. .
The number of people who must accumulate jobs to earn a living wage is "now at a very very high level", recognized the president of the American Central Bank, questioned by senators.
Just over 5% of workers in the United States have multiple jobs.
In addition, the change in average wages fell in December below 3% (+ 2.9%) compared to December 2018, for the first time in a year and a half, according to official data.
"We could have expected a higher rise" given the low unemployment rate of 3.6%, said Jerome Powell, who believes that "it is a bit of a surprise" that wages have not more increases.
The unemployment rate is indeed at its lowest level in almost 50 years.
People who dropped out of high school in the United States are paying the price for this sluggish growth, as their wages have "stagnated for a long time," said Jerome Powell.
One of the shortcomings of the system, according to him, lies in the initial and continuous training of employees so that they can have a level adapted to technological developments.
Better training makes it possible to fill jobs offering better wages, and thus leads to reducing inequalities.
"This is what the United States has done for a very long time", before being caught up by other countries, regretted the president of the Fed.
The most affected by unemployment are African-Americans, since the number of unemployed people "is practically twice as high as that of the population as a whole," he said, finding this fact "worrying". .
Jerome Powell, however, was optimistic about the American economy, growing for the 11th year in a row.
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