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Monetary policy can't save long-term unemployed: Economist
Jobless claims may have dropped to pre-recession lows, but that doesn't mean the job market is healthy, the chief economist for Sterne Agee told CNBC on Thursday. What's more, another top economist believes monetary policy alone cannot help the long-term unemployed. During an appearance on CNBC's "Squawk Box," John Ryding, the chief economist for RDQ Economics, questioned whether monetary policy can spur more hiring. Large numbers of open positions, coupled with the long-term jobless dropping out of the labor market, has been a huge drag on the labor market. That comes even as the unemployment rate edges closer to ... (full story)