#CNBC Powell: Both supply and demand for labor have come down ‘quite sharply’

Powell: Both supply and demand for labor have come down ‘quite sharply’
Federal Reserve Chair Jerome Powell said changes in immigration have impacted the supply of workers in the U.S., though demand for workers has also come down.

“Both supply and demand have come down quite sharply. Now, demand coming down a little more sharply because we now see the unemployment rate edging up,” Powell said.

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